>. 


IMAGE  EVALUATION 
TEST  TARGET  (MT-3) 


V 


Ml 


^ 


1.0 


!  1.1 


itt  lU   g2.2 
2.0 


1*0 


M 


III!—  IIh  U4 

-• 

6"     

> 

Sciences 
Carporation 


23  ¥MST  IKAW  STMfT 

WMSTK,N.V.  \*,itti 

(7U)t73-4S01 


4^ 


CIHM/ICMH 

Microfiche 

Series. 


CIHIVI/ICIVIH 
Collection  de 
microfiches. 


Canadian  Institute  for  Historical  Microreproductions  /  Institut  Canadian  de  microraproductions  historiquos 


Ik 


Technical  and  Bibliographic  Notas/Notas  tachniquaa  at  bibliographiquat 


Tha  Instituta  hat  attamptad  to  obtain  tha  baat 
original  copy  availabia  for  filming.  Faaturas  of  thia 
copy  which  may  ba  bibliographically  uniqua. 
which  may  altar  any  of  tha  imagas  in  tha 
raproduction.  or  which  may  aignificantly  changa 
tha  usual  mathod  of  filming,  ara  chackad  balow. 


D 


D 


D 


D 


n 


n 


Colourad  covart/ 
Couvarture  da  coulaur 


I     I    Covers  damaged/ 


Couvarture  endommegAe 


Covers  restored  and/or  laminated/ 
Couverture  restaurte  et/ou  pelliculAe 


I      I    Cover  title  missing/ 


Le  titre  de  couverture  manque 


I      I    Coloured  maps/ 


Cartes  gtographiques  en  couleur 

Coloured  inic  (i.e.  other  than  blue  or  black)/ 
Encre  de  couleur  (i.e.  autre  que  bleue  ou  noire) 


I      I    Coloured  plates  and/or  illustrations/ 


Planches  et/ou  illustrations  en  couleur 

Bound  with  other  material/ 
ReliA  avec  d'autres  documents 

Tight  binding  may  cause  shadows  or  distortion 
along  interior  margin/ 

La  reliure  serr6e  peut  causer  de  I'ombre  ou  de  la 
distortion  ie  long  de  la  marge  intirieure 

Blank  laeves  added  during  restoration  may 
appear  within  the  text.  Whenever  possible,  these 
have  been  omitted  from  filming/ 
II  se  peut  que  certaines  pages  blanches  ajouttes 
lors  d'une  restauration  apparaissent  dans  la  taxte. 
mais.  lorsque  cela  Atait  possible,  ces  pages  n'ont 
pes  At*  filmtes. 

Additional  comm«>Dts:/ 
Commentaires  supplAmentaires; 


L'Instltut  a  microf  llmA  la  mailleur  exempleire 
qu'il  lui  a  *t4  possible  de  se  procurer.  Les  details 
da  cat  exempleire  qui  sent  peut-Atre  uniques  du 
point  de  vue  bibliographiqua.  qui  peuvent  modifier 
une  image  reproduite.  ou  qui  peuvent  exiger  une 
modification  dans  la  mAthode  normale  de  filmage 
sont  indiquAs  ci-dessous. 


n~|   Coloured  pages/ 


D 


Pages  de  couleur 

Pages  damaged/ 
Pages  endommagias 

Pages  restored  and/oi 

Pages  restaurtes  et/ou  pelliculies 

Pages  discoloured,  stained  or  foxet 
Peges  dicolortes,  tachatAes  ou  piquies 

Pages  detached/ 
Pages  ditachtes 

Showthroughy 
Transparence 

Quality  of  prin 

Quality  in6gale  de  I'impression 

Includes  supplementary  materii 
Comprend  du  material  supplimentaire 

Only  edition  available/ 
Seule  Edition  disponible 


I      I  Pages  damaged/ 

I      I  Pages  restored  and/or  laminated/ 

Pyl  Pages  discoloured,  stained  or  foxed/ 

r~1  Pages  detached/ 

I      I  Showthrough/ 

r~~|  Quality  of  print  varies/ 

I      I  Includes  supplementary  material/ 

I — I  Only  edition  available/ 


Pages  wholly  or  partially  obscured  by  errata 
slips,  tissues,  etc..  have  been  ref limed  to 
ensure  the  best  possible  image/ 
Les  pages  totalament  ou  partiellement 
obscurcies  par  un  feuillet  d'errata,  une  pelure, 
etc..  ont  M  filmies  A  nouveau  de  faqon  A 
obtanir  la  meilleure  image  possible. 


This  item  is  filmed  at  the  reduction  ratio  checked  below/ 

Ce  document  est  film*  au  taux  da  reduction  indiqu*  ci-daaaoua. 

10X  14X  18X  22X 


26X 


30X 


12X 


ItfX 


20X 


24X 


28X 


32X 


The  copy  filmed  here  hes  been  reproduced  thenki 
to  the  generosity  of: 

Dmm  Portmr  Arts  Library 
Univtraity  of  Wattrloo 


L'exempleire  filmA  f ut  reproduit  grAce  A  ia 
gAnArosit*  de: 

Dana  Portar  Arts  Library 
Univarsity  of  Watarloo 


The  images  appeering  here  are  the  best  quality 
possible  considering  the  condition  and  legibility 
of  the  original  copy  and  in  iceeping  with  the 
filming  contract  specifications. 


Les  Images  suivantes  ont  4tA  reproduites  avec  le 
plus  grand  soin,  compte  tenu  de  le  condition  et 
de  la  nettet*  de  rexemplaire  f  iim«.  et  en 
conformity  avec  les  conditions  du  contrat  de 
flimage. 


Originel  copies  in  printed  paper  covers  ere  filmed 
beginning  with  the  front  cover  end  ending  on 
the  last  page  with  a  printed  or  illustreted  impres- 
sion, or  the  bacii  cover  when  appropriate.  All 
other  original  copies  are  filmed  beginning  on  the 
first  page  with  a  printed  or  illustrated  impres- 
sion, and  ending  on  the  last  page  with  a  printed 
or  illustrated  impression. 


Les  exemplaires  originaux  dont  la  couverture  en 
papier  est  ImprimAe  sent  fllmis  en  commenpant 
par  le  premier  plat  et  en  terminant  soit  par  la 
dernlAre  page  qui  comporte  une  empreinte 
d'impresslon  ou  d'illustretlon,  soit  par  le  second 
plat,  salon  le  ces.  Tous  les  autres  exemplaires 
originaux  sont  fllm4s  en  commenpant  par  ia 
premiere  page  qui  comporte  une  empreinte 
d'impresslon  ou  d'illustration  et  en  terminant  par 
la  dernlAre  page  qui  comporte  une  telle 
empreinte. 


The  last  recorded  frame  on  each  microfiche 
shall  contain  the  symbol  -^  (meaning  "CON- 
TINUED"), or  the  symbol  y  (meaning  "END"), 
whichever  applies. 


Un  des  symboies  sulvants  appareltre  sur  la 
dernlAre  Image  de  cheque  microfiche,  selon  le 
cas:  le  symbole  -^^^  signifie  "A  SUIVRE".  le 
symbols  V  signifie  "FIN". 


Maps,  plates,  charts,  etc.,  mey  be  filmed  at 
different  reduction  ratios.  Those  too  lerge  to  be 
entirely  included  in  one  exposure  are  filmed 
beginning  in  the  upper  left  hend  corner,  left  to 
right  and  top  to  bottom,  as  many  frames  as 
required.  The  following  diagrams  illustrate  the 
method: 


Les  cartes,  planches,  tatileeux,  etc.,  peuvent  Atre 
flimte  A  des  taux  de  rM^Jcticn  diffArents. 
Lorsque  le  document  est  trop  grend  pour  Atre 
reproduit  en  un  seul  cliche  11  est  FilmA  A  partir 
de  I'angle  supArieur  gauche,  ds  gauche  A  droite, 
et  de  haut  en  bas,  en  prenant  le  nombre 
d'Imeges  ntcessaire.  Les  diegremmes  sulvants 
illustrent  la  mAthode. 


1 

2 

3 

1 

2 

3 

4 

5 

6 

CHARTER,   REPORTS, 


AND 


BY-LAWS 


OF 


,he  iitttario  j 


i/ 


literal  ; 


mk 


(OtHpang, 


PUBLISHED  BY  OEDER  OF  THE  BOAED  OP  DP.EOTOES, 
DECEMBER  30th,  1872. 


PnESiDEN-r A.  IT.  SIBLEY. 

VicE-PitESinENT,  PELEQ  HALL. 

TuEASUREn, EDWARD  LEARNED. 

Secuetaky,  ....  C.  a.  TROWBRIDGE. 


b 


'  E.  B.  WARD, 

EDWARD  LEARNED, 
I   PELEG  HALL, 

C    A.  TROWBRIDGE, 
A.  H.  SIBLEY. 


Offices,  Room  22,  No.  52  Broadway,  New- York,  and 

Edinburgh  Assurance  Buildings,  'Wellington 

Street,  Toronto. 


gcw-fovfe : 


JOHN    W.    AMERMAN,    PRINTER, 
No.  47  Cedaii  Street. 

1873. 


n 


CHARTEE. 


•  >•■ 


AN  ACT 

To     LVCOKPORATE     "  TlIE     OnTABIO     INIlNERAL    LaNDS 

Company." 


First  Reading,  25th  January,  1872. 
Second    "         14th  February,  1872. 
Third      "         20th  February,  1872. 
Royal  Assent  given,  2d  March,  1872. 


Whereas,  under  and  by  virtue  of  a  certain  deed  of  con- Preamble 
veyance,  dated  the  thirteenth  day  of  November,  one  thou- 
sand eight  hundred  and  seventy-one,  between  the  Montreal 
Mining  Company,  of  the  one  part,  and  Alexander  Hamilton 
Sibley,  Eber  B.  Ward,  Edward  Learned,  Peleg  Hall  and  C. 
A.  Trowbridge,  therein  described,  of  the  second  part,  the 
last  named  persons  became  seized  in  fee  of  the  several  min- 
ing locations,  lands  and  premises,  therein  mentioned  or  re- 
ferred to,  and  being  situate  on  Lakes  Huron  and  Superior, 
and  within  the  districts  of  Algoma  and  Thunder  Bay,  upon 
the  trusts  therein  mentioned,  and  particularly  doclarea  in  a 
certain  Deed  of  Trust,  bearing  date  the  second  day  of  No- 
vember, one  thousand  eight  hundred  and  seventy,  made 
between  Alexander  Hamilton  Sibley,  of  the  one  part,  and 
Eber  B.  Ward,  Edward  Learned,  Peleg  Hall,  C.  A.  Trow- 
bridge and  A.  H.  Sibley,  of  the  other  part,  and  have  paid 
the  purchase  money  therefor  in  full ;  and  whereas,  the  said 
Alexander  Hamilton  Sibley,  Eber  B.  Ward,  Edward  Learned, 


tion 


Name. 


Pcleg  Hall  and  C.  A.  Trowbridge  have  petitioned  for  an  Act 
of  Incorporation,  for  the  purpose  of  carrying  on  mining  ope- 
rations, and  otherwise  carrying  out  the  ohjects  contemplated 
by  the  said  deed  of  trust ;  and  it  is  expedient  so  to  grant: 
Therefore  Her  Majesty,  by  and  with  tlte  advice  and  consent 
of  the  Legislative  Assembly  of  the  Province  of  Ontario, 
enacts  as  follows: 

Corpora-  i.  The  said  Eber  R  Ward,  Edward  Learned,  Peleg  Hall, 
C.  A.  Trowbridge  and  Alexander  Hamilton  Sibley,  and  such 
other  person  or  persons,  bodies  corporate  or  politic,  as  arc 
or  may  become  holders  of  shares  in  the  Company  hereby 
incorporated,  are  hereby  constituted  and  declared  to  be  a 
body  corporate  and  politic,  under  the  name  of  "The  Onta- 
rio Mineral  Lands  Company." 


Capital.  2.  The  capital  stock  of  the  said  Company  shall  be  one 

hundred  and  sixty  thousand  dollars,  paid  up  stock,  divided 
into  sixteen  hundred  shares  of  one  hundred  dollars  each, 
and  the  said  Company  shall  have  power  to  increase  the  same 
by  the  issue  of  new  stock,  as  hereinafter  mentioned,  in  shares 
of  the  same  amount,  to  an  extent  not  exceeding  eight  hun- 
dred thousand  dollars. 


I 


Allotment     3.  All  the  persons  who,  at  the  time  of  the  massing  of  this 
of  stoub.  .  .  " 

act,  are  entitled  to  any  interest  under  the  said  deed  of  trust, 

are  declared  to  be  possessed  of  the  capital  stock  of  the  said 
Company,  fully  paid  up,  according  to  their  respective  inter- 
ests in  the  apportionment  made  in  the  said  deed  of  trust 
between  the  beneficiaries  therein  mentioned ;  and  shall  be 
entitled  to  have  their  respective  shares  or  interests  allotted 
to  them,  and  to  demand  and  receive  certificates  therefor, 
upon  the  said  Company's  perfecting  its  organization  under 
this  act. 


I88CC  of     4.  The  said  Company  shall  be  at  liberty  to  issue  further 

further  . 

stock.       stock  to  the  extent  of  eight  hundred  thousand  dollars,  in 

shares  of  one  hundred  dollars;  and  the  liolders  of  paid  up 

stock,  mentioned  or  referred  to  in  the  second  section  of  this 

act,  shall  have  the  right  of  subscribing  for  such  further  issue 


of, 


an 


Act 


ig  ope- 
iplated 
grant : 
;onsent 
hitario, 


g  Hall, 
id  such 
,  as  are 
herel)y 
to  be  a 
le  Onta- 


1)0  one 
divided 
rs  each, 
he  same 
n  shares 
rht  hun- 


of  this 
of  trust, 
the  said 
ve  inter- 
of  trust 
shall  be 
allotted 
therefor, 
3n  under 


I 


t 


or  issues  of  stoc'-',  or  for  any  part  tliercof,  at  par,  in  propor- 
tion to  their  respective  interests  in  such  paid  up  stock  as 
aforesaid;  and  the  said  Company  shall  be  at  liberty  to  tlx 
a  premium  on  such  stock  when  the  same  shall  be  opened  to 
subscription  by  the  public. 

n.  The  said  Alexander  Hamilton  Sibley,  Eber  B.  Wanlj^j^^^ovw^n^ 
Edward  Learned,  Peleg  Hall  and  Charles  A.  Trowbridge 
are  hereby  constituted  a  board  of  Provisional  Directors  of 
the  said  Company,  and  shall  hold  ofiice  as  such  until  Direct- 
ors are  appointed  by  the  shareholders  of  the  said  Company. 

0.  All  the  estate,  real  and  i)ersonal,  of  whatever  kind  or     Propciiy 
,         .      .  ,        .  ,.    1  •  o    ^  •  ^  •     covcieil    by 

description,  at  the  time  oi  tlie  passing  ot  this  act,  vested  jiithe    Tiuet 

the  said  Alexander  Hamilton  Sibley,  Eber  H.  Ward,  Edward  visitii     in 
Learned,  Peleg  Hall  and  Charles  A.  Trowbridge,  or  which  pany. 
they  may  then  be  entitled  to  hold  under  or  subject  to  the 
trusts  of  the  said  recited  deed  of  the  second  of  November, 
one  thousand  eight  hundred  and  seventy,  is  hereby  vested 
in  the  said  Company;  and  the  said  Company  shall,  in  like      Liabiuiy 
manner,  be  liable  to  all  contracts  and  obligations  entered  P^^'y- 
into  or  ii«;urrcd  by  the  said  Alexander  Hamilton  Sibley, 
Eber  B.  Ward,  Edward  Learned,  Peleg  Hall  and  Charles  A. 
Trowbridge,  under  the  said  deed  of  trust,  or  in  relation  to 
the  provisions  thereof:  Provided  alwoi/s,  that  no  part  of  the 
said  lands  so  vested  in  the  said  corporation  in  excess  of  two 
thousand  acres,  shall  be  held  for  a  longer  period  than  ten 
years  from  the  passing  of  this  act;  and  within  such  period, 
such  lands  shall  be  absolutely  sold   and  disposed  of  by  the 
said  corporation,  so  that  it  shall  not  thereafter  retain  any  in- 
terest in  any  of  the  said  lands  in  excess  of  two  thousand 
acres,  and  all  such  lands  in  excess  of  two  thousand  acres 
which  may  not,  within  the  said  period,  have  been  so  disposed 
of,  shall  revert  to  Her  Majesty,  her  successors  and  assigns. 


e  further 
ollars,  in 
paid  up 
)n  of  this 
her  issue 


^.  It  shall  be  lawful  for  the  said  Company  to  sell,  lease  or    powers  to 
otherwise  dispose  of  the  said  estate,  real  and  personal.  ""'  ^^' 

8.  The  said  Company  may  engage  in  exploring  for  minerals.    Power  to 
in  mining,  in  smelting,  and  in  the  manufacturing  and  dispos-  miuee,  &c 


6 


1  I 


I  I 
I  I 

'  I 
•  I 

I 

!     1 


ing  of  minerals  and  materials  belonging  as  well  to  the  saifl 
Company  as  to  otli^r  persons;  and  shall  have  power  to  do 
all  lawful  acts  that  may  be  necessary  or  convenient  for  or  in 
connection  with  these  purposes, 

Toaccept     0.  It  shall  also  be  lawful  for  the  said  Company,  upon 
la     '  other  makini;  sales  or  leases  of  real  or  personal  property,  or  minini? 

ConipanicB  °    „  .  .  ,  ,      ,. 

ill  mukiu«or  nianulactunng  arrangements  with  any  bodies  corporate 
or  politic,  to  take  in  consideration  therefor  stock  and  deben- 
tures or  bonds  in  such  bodies  corporate  or  politic. 

Power  to  10.  The  Directors  of  the  said  Comj)any,  after  the  sanction 
of  shareholders  shall  have  been  first  obtained,  at  a  general 
meeting  to  be  called  for  from  time  to  time  for  such  purpose, 
shall  have  power  to  borrow,  from  time  to  time,  for  the  pur- 
poses of  the  Comi)any  hereby  incor])oiated,  either  in  this 
Province  or  elsewhere,  such  sums  of  money  as  may  be  ex- 
pedient for  carrying  out  the  objects  of  the  said  incorporation, 
and  at  such  rates  of  interest  as  they  may  deem  proper ;  and 
to  issue  bonds,  debentures  or  other  securities  for  the  sums  so 
borrowed,  and  to  make  the  same  payable  cither  in  currency 
or  sterling,  and  at  such  place  or  places,  within  the  Province 
or  elsewhere,  as  may  be  deemed  advisable ;  and  to  sell  the 
same  at  such  prices  as  may  be  deemed  expedient ;  and  to 
hypothecate,  mortgage  or  pledge  the  lands,  revenues  and 
other  i^roperty  of  the  Company,  for  the  due  payment  of 
the  said  sums,  and  the  interest  thereon,  but  no  such  deben- 
tures shall  be  for  a  less  sum  than  one  hundred  dollars ;  and 
such  bonds,  debentures  and  securities  shall  be  made  and 
signed  by  the  President  or  Vice-President  of  the  said  Com- 
pany, and  countersigned  by  the  Secretary  of  the  said  Com- 
pany, and  under  the  seal  of  the  said  Company ;  provided, 
that  the  said  Company  shall  not  be  authorized  to  borrow  a 
sum  exceeding  the  amount  of  the  capital  stock  then  paid  up. 


Whoehaii     H.  The  shareholders  of  the  said  Company  shall  consist  of 

hoidew^'^'  the  persons  in  the  third  paragraph  hereof  referred  to,  and  of 

such  other  persons  as  may  subscribe  to  any  stock  that  may 

be  hereafter  issued  by  the  said  Company,  who  shall  have 

fully  paid  up  all  calls  upon  said  shares,  together  with  the 


14. 


•  furnii 


the  s.iifl 

k-cr  to  do 

for  or  in 


ny,  upon 
)r  mining 
corporate 
1(1  dcben- 


j  sanction 
a  general 
1  purpose, 
r  the  p\ir- 
;r  in  this 
ay  be  ex- 
rporation, 
)per;  and 
e  sums  so 
I  currency 

Province 
to  sell  the 
it ;  and  to 
;nues  and 
lynient  of 
icU  deben- 
Uars;  and 
made  and 
said  Corn- 
said  Com- 

provided^ 
)  borrow  a 
in  paid  up. 

consist  of 
to,  and  of 
:  that  may 
shall  have 
r  with  the 


amount  of  any  premium  on  stock  that  may  be  fixed  as  afore- 
said ;  and  every  shareholder  shall  bo  entitled  to  a  vote  for 
every  share  which  he  shall  hold. 


Shares 
thutr 


12.  The  shares  or  stock  of  the  said  Company  shall  be^„j 
deemed  j)crsonal  property,  and  shall  be  transferable  in  the  trangfer 
form  set  out  in  Schedule  A.,  hereto  annexed.  The  transfer 
shall  be  registered  in  a  l)ook  to  be  kept  by  the  Company  for 
that  purpose,  which  shall  be  open  to  tlie  public ;  and  uj»on 
such  registration,  the  Company  shall  issue  certificates  in  the 
form  prescribed  in  Schedule  B.,  hereto  annexed. 


13.  The  affairs  of  the  said  Company  shall  be  managed  by    nirectoio. 

their  quuli- 

five  Directors,  of  whom  three  shall  form  a  quorum;  such  flcation, 
Directors  shall  be  holders  of  not  less  than  twenty-five  shares  powers, 
in  the  said  Company,  and  shall  be  elected  annually,  at  an 
annual  general  meeting  of  the  shareholders,  of  which  fourteen 
days'  notice  shall  be  given  by  circular  or  advertisement. 
The  Directors  shall  elect  from  among  themselves  a  President 
and  Vice-President  of  the  said  Company,  and  shall  appoint 
a  Secretary  and  Treasurer ;  they  shall  make  By-Laws  for  the 
government  of  said  Company,  and  submit  the  same  to  a 
meeting  of  the  shareholders,  on  giving  due  notice ;  and  shall 
make  calls  on  stock,  and  prescribe  the  manner  in  which  the 
same  shall  be  made ;  and  shall  have  power  to  cancel  any 
stock  on  which  calls  may  remain  unpaid  for  three  months,  on 
giving  reasonable  notice,  and  to  declare  the  same  forfeited ; 
and  to  employ  agents  or  servants  for  any  purposes  connected 
with  the  said  Company;  and  shall  declare  dividends  when- 
ever the  profits  of  the  Company  shall  amount  to  the  sum  of 
one  hundred  thousand  dollars,  or  to  a  less  amount  if  they  see 
fit ;  and  to  appoint  times  and  places  for  the  annual  general 
meeting  or  other  meetings  of  the  Company;  and  to  appoint 
persons  to  fill  the  places  of  any  Directors  who  may  die, 
resign,  or  become  incapable  of  acting  in  the  interval  between 
their  appointment  and  the  next  annual  general  meeting. 

14.  It  shall  be  incumbent  on  persons  subscribing  or  who      Pcreons 
may  have  subscribed  for  stock  in  the  said  Company,  to  for  **''^Bto?§ 

I  furnish  to  the  Secretary  of  the  said  Company  an  address  in  ^uh    their 

addreaees. 


8 


'I' 

'I  ' 


writing  to  which  all  notices  shall  be  sent ;  and  it  shall  be 
suflicient  to  send  to  that  address  all  noticcc  relatiuir  to  ealls 
and  forfeiture,  or  cancellation  of  stock  and  all  other  notices  ; 
and  if  such  address  be  not  given,  such  notices  shall  be 
deemed  sufficiently  served,  if  inserted  three  times  in  the 
Ontario  Gazette,  and  once  in  each  week  for  tlirce  weeks,  in 
a  daily  newspaijcr  published  in  the  City  of  Toronto. 

F^Btabibh-     15.  The  Diroctors  shall  have  authority  to  establish  places 
CM.  or  offices  for  the  business  of  the  Company  in  such  jdaces  as  to 

them  shall  seem  proj)cr,  and  to  have  books  at  sueh  places 
for  the  subscription  and  transfer  of  shares,  and  for  the  trans- 
action of  any  business  of  the  Company  thereat,  including 
shareholders'  meetings,  if  the  shareholders  themselves  shall 
so  approve,  and  to  employ  agents  for  that  purpose ;  the 
principal  office  of  the  Company  shall  be  within  the  Province 
of  Ontario. 


i 


I  I 


Books  to     10.  The  Directors  shall  also  keep,  at  some  convenient  place 

be    koDt  ftt 

Toronto,  in  the  City  of  Toronto,  in  the  Province  of  Ontario,  a  book 
or  books  containing  a  true  and  correct  copy  of  the  subscrip- 
tions and  transfers  of  stock,  with  such  addresses  as  afore- 
said, collated  from  the  various  subscription  and  transfer 
books  of  the  said  Company,  and  the  same  shall  be  open  to 
inspection  by  the  public  at  all  reasonable  times  ;  such  books 
shall  also  show  what  amounts  have  been  paid  on  stock,  or 
what  amounts  remain  unpaia  thereon ;  and  notice  of  the 
place  so  appointed  shall  be  given  in  the  Ontario  Gazette, 
and  a  daily  newspaper  published  in  the  City  of  Toronto, 
once  a  A\eek  for  four  weeks. 


Service  of 
procoBi. 


IV.  Service  of  process  in  any  action,  suit,  matter  or  pro- 
ceeding, may  be  made  by  leaving  a  copy  thereof  at  the 
place  referred  to  in  the  last  preceding  section,  or  personally 
on  any  one  of  the  Directors. 


an( 


Right  of    18.  Aliens  may  be  shareholders  and  Directors  and  officers 
holders,      of  the  said  Company. 


Liabjiuy     19.  Nothing  in  this  act  contained  shall  relieve  the  said 
of      Sibley  ** 

etti.         Alexander  Hamilton  Sibley,  Eber  B.  Ward,  Edward  Learn- 


it  sliall  1)C 
iiiir  to  calls 
jcr  notices ; 
(9  sliull  be 
mes  in  the 
?c  weeks',  in 
nto. 

iblish  places 
places  as  to 
such  places 
or  the  trans- 
t,  including 
iiselves  shall 
lurpose ;  the 
he  Province 

renient  place 
tario,  a  book 
the  subscrip- 
!C8  as  afore- 
ancl  transfer 
11  be  open  to 
;  such  books 
on  stock,  or 
loticc  of  the 
ario  Gazette, 
J  of  Toronto, 


natter  or  pro- 
Hereof  at  the 
or  personally 


0(1,  IVIi",'  II.iU  anil  C.  A.  Trow  brldi^'c,  or  any  of  thcni.  from 
any  liahiliiy  oxistiii;^'  ;it  \\ui  tiiuf  ul'  the  passing  of  this  act 
under  the  said  deed  uf  trust. 


rs  and  officers 


SCHKDULE  A. 

I,  in  consideration  of  the 

sum  of  dollars,  paid  to  me  by 

of  do  hereby  bargain,  sell  and  transfer 

to  the  said  and  his  executors,  adminisD :    ors 

ami  assigns,  or  such  persons  as  by  law  may  become  enliilcd 
to  his  or  their  personal  property, 

shares  in  "The  Ontario  Mineral  Laikls  Company,"  subject 
to  the  saint  .,  .'s  and  orders,  and  on  the  same  conditions, 
that  T  held  the  same  immediately  Ih  fore  the  cvecutiou 
hereof. 

And  T,  the  said  do  hereby  accept 

of  the  said  shares,  subject  lo  the  same 

rules,  orders  and  conditions. 


As  witness  our  hands,  this 


day  of 


A.  D.  18 


SCHEDULE  B. 

This  is  to  certify,  that  is  a  holder  of 

shares  in  "  The  Ontario  Mineral  Lands  Company,"  of  the 
par  value  of  upon  which  the  sum  of 

has  been  paid  up. 

Given   under  the  hands  of  the  President  and  Secretary, 
and  under  the  seal  of  the  said  Company,  this  day  of 

A. D.  18    . 


i 


ilieve  the  said 
Idward  Leara- 


III 

11 

M  I 

III 

lilt 
■  111 

"(f 
"II 
'III 
"   ! 


in 

Mil 
l«l 
III 

III 

'M 


M 


•I  I 


i  I 

i; 
II 

II 

M 

»  I 


Ji 


« 

*. 


MI  ]sr  U  TE  s 


OP  THE 


%mml  (General  l^ceting  of  tbe  ^^^vtMHim, 


The  first  annual  general  meeting  of  the  shareholders  of  the 
Ontario  Mineral  Lands  Company  was  duly  called  for  the  30th  day 
of  December,  1872,  at  12,  M. 

On  that  day,  1,122  shares  being  represented,  either  in  person  or 
by  proxy,  Alexander  H.  Sibley,  Esq.,  the  President,  took  the 
Chair,  and  the  following  proceedings  were  thereupon  had  : 

I      The  following  resolutions,  moved  by  F.  E.  Kernochan,  Esq.,  and 
*  seconded  by  George  S.  Coe,  Esq.,  were  unAnimousIy  adopted: 

Mcsolution  1.  liesolved,  That  Room  22,  Number  52  Broadway, 
in  the  City  of  New-York,  is  hereby  apprcvKl  of  as  the  office  or 

|j)lace  for  the  transaction  of  the  business  of  the  Company,  for  the 
subscription  and  transfer  of  shares,  and  for  holding  the  meetings 

[of  shareholders  thereat. 

liesolution  2.  T^esolved,  That  the  shareholders,  having  heard  the 
report  of  the  Directors  read,  as  well  as  their  statement  of  the 
{transactions  of  the  Trustees  under  the  Trust  Deed  of  the  2d  of 
[November,  1870,  do  hereby  approve  of  and  adopt  the  same. 

ItesoluHon  3.  Resolved^  That  the  By-LaAVS,  now  submitted  by 
[the  Board  of  Directors,  for  the  government  of  the  Company,  are 
[hereby  approved  of. 


n 


mmmm 


III 


ji 

!! 


!l 


Ml 
ill 

i 

I  ■ 


12 

JResoluflon  4.  Resolved,  That  the  following  persons,  being 
respoctivoly  holders  of  not  less  than  twenty-tive  shares  in  the 
capital  stock  of  the  Company,  are  hereby  duly  elected  the  Direc. 
tors  of  the  Company  for  the  ensuing  year,  and  until  the  next 
annual  general  meeting  of  the  shareholders  of  the  Company  : 

Edeb  B.  Ward,  of  Detroit,  Michigan. 
Edwakd  Learned,  of  Pittsfield,  Massachusetts. 
Peleg  Hall,  of  New- York  City. 
Charles  A.  TuowimiDGE,  of  New- York  City. 
Alexander  H.  Sihley,  of  Silver  Islet,  Ontario. 

On  motion,  the  meeting  adjourned. 

Charles  A.  Trowbridge, 
Secretary. 


At  a  meeting  of  Directors,  held  on  the  same  day,  Alexander  H. 
Sibley  was  elected  President,  and  Peleg  Hall,  Vice-President; 
Charles  A.  Trowbridge  was  appointed  Secretary,  and  Edward 
Learned,  Treasurer;  all  to  hold  office  during  the  ensuing  year,  or 
until  their  successors  are  elected  or  appointed. 

It  was  also  resolved,  that  the  Charter,  By-Laws  and  Report  of 
the  Trustees  be  printed  for  distribution  to  the  shareholders. 

On  motion,  the  meeting  adjourned. 

Charles  A.  Trowbridge, 
Secretary. 


the 

of]; 

who. 

Wen 

am  ill; 

Com 

•xpk 

^pi 

||iFor( 

^  18 

treat 

pany 

sue)) 

pi.' 

,:  A 

^ral 

^ere 

Its 

a,.  .  I 

pniii^ 


sons,  being 
ai'cs  in  the 
I  the  Direc. 
X\  the  next 
ipany  : 


I 


# 


REPORT. 


I'DRIDGB, 

Secretary. 


Alexander  H. 

ice-President ; 

and  Edward 

suing  year,  ov 

and  Report  of 
holders. 


)WBRIDGE, 

Secretary, 


The  Trustees  of  the  "  Canada  Lands  Purchase"  have  the  honor 
%o  submit  the  following  report  to  the  sharehoklers  of  "  The  On- 
tario Mineral  Lands  Company :" 

On  the  2Sth  July,  1847,  by  ChaptcB  G7  of  10  and  11  Victoria, 
Statutes  of  Canada,  a  Company,  called  "  The  Montreal  Mining 
Company,"  was  incorporated,  with  power  to  acquire  mineral  lands 
on  the  north  shores  of  Lakes  Superior  and  Huron,  and  to  explore, 
develope,  issue,  sell,  lease  or  otherwise  dispose  of  them.     That 
the  Company,  uniler  its  charter,  got  patents  for  a  large  quantity 
of  lands,  located  under  the  advice  of  Professor  Forrest  Shepherd, 
who,  during  the  year  1 8*46,  with  from  80  to  90  men,  most  of  whom 
were  miners  and  explorers  of  experience,  had  made  thorough  ex- 
aminations of  the  country  bordering   on  Lake   Superior.     The 
Company  finding,  after  a  considerable  expenditure  of  money  in 
exploring  and  developing,  that  these  lands  could  not  be  Uinied 
^o  profitable  account  without  a  much  larger  outlay  than  could  be 
Afforded,  a  resolution  was  passed  at  the  annual  general  meeiing 
in  1 86."),  authoj'izing  ''the  Directoi's,  duriug  the  ensuing  yea'*,  <o 
treat  for  the  sale  or  lease  of  the  whole  or  any  part  of  the  Com- 
pany's property,  and  to  sell  and  dispose  of,  or  lease  the  same,  on 
8uch   terms  and  conditions  of  payment,  as  may  appear  to  the 
Directors  advisable  and  for  the  Company's  benefit." 

A  similar  resolution  Avas  passed  annually  at  the  successive  gen- 
eral meetings  of  that  Company ;  and,  in  the  meantime,  efforts 
were  maije  in  England,  with  tlie  view  of  inducing  British  capital- 
fcts  to  purchase  the  Company's  lands,  or  to  join  in  developing  or 
ttiining  them.  ^ 


14 


''111: 


I 


•11!!; 

%\\ 
•ill. 


i;; 

'Mil 

'ill! 


"••I 

;    il 

II 

II 
I 
II 

I  " 

ii; 

I!!! 
•ill 

•Ml 

111 

Ml, 


Assays  were  made  by  Professors  Chapman,  Dawson,  Macfar- 
lane  and  others,  in  Canada,  and  Dr.  Hayes,  of  Boston,  which 
indicated  the  existence  of  extraordinarily  rich  ores  of  silver  on 
these  lands,  and  especially  on  Silver  Islet. 

On  the  recommendation  of  Mr.  Thomas  Macfarlane,  then  acting 
as  the  Superintendent  of  the  Company,  a  small  force  was  em- 
ployed in  making  explorations  and  doing  mining  work,  on  and 
about  Silver  Islet,  in  the  years  1868  and  1889;  and  during  the 
Avinter  of  1869  and  1870,  a  shaft  was  sunk  on  the  Islet  to  the 
depth  of  about  17  feet,  when  work  was  stopped  in  consequence 
of  the  influx  of  water. 

The  Hon.  Thomas  Ryan,  then  President  of  the  Company,  en- 
deavored to  procure  the  assistance  of  English  capitalists  in  Lon- 
don, but  reported  on  the  9th  March,  1870,  as  appears  from  the 
minute-book,  "  that  altliough  lie  gave  some  time  and  attention  to 
the  I  latter  in  London,  he  found  little  disposition  to  embark  capi- 
tal in  distant  mining  enterprises."  At  the  same  meeting  it  was 
also  reported,  that  Messrs.  McDougall  and  Davidson,  who  had 
made  a  conditional  offer  for  a  portion  of  these  lands,  including 
Silver  Islet,  "  after  a  lapse  of  four  months,  found  themselves  una- 
ble to  accomplish  the  formation  of  the  Company  in  England." 

Subsequently,  negotiations  were  carried  on  between  the  Montreal 
Directors  and  certain  parties  in  Montreal,  who  again  endeavored 
to  i^lace  the  property  in  England,  where  they  partially  succeeded 
in  negotiating  a  sale ;  but  not  being  able  to  provide  all  the  money 
needed,  the  English  parties  telegraphed  to  Alexander  H.  Sibley, 
in  August,  1870,  in  New- York,  offering  one-half  the  property  on 
the  terms  of  a  bond,  which  would  expire  on  the  first  of  September. 
The  offer  was  accepted  by  Mr.  Sibley,  who  went  to  Montreal ; 
and,  on  the  day  when  the  first  instalment  was  to  be  paid  over,  the 
English  parties,  represented  by  a  solicitor  sent  from  London,  de- 
clined the  purchase,  withdrew,  and  left  Mr.  Sibley  to  find  the 
whole  amount,  or  abandon  the  purchase. 

Having  succeeded  in  getting  some  other  persons  to  join  with 
him,  Mr.  Sibley  became  the  purchaser  of  the  whole  of  the  Montreal 
Mining  Company's  property  for  himself  and  them,  for  $225,000, 
in  gold;  payable,  cash,  150,000;  1st  January,  ?87l,  $50,000;  1st 
July,  1871,  $50,000,  and  the  balance  in  September,  1871,' through 
a  transfer  of  the  following  instruments : 


and 

two 

Mont 

Enc 

lute 

is  hei 

Tollo) 

Septc 

land 

drcd 

July, 

five  t 

sand 

per  c 

thous 

Hont 

Ourse 

Alex 

fund 

iiani 


15 


1,  Macfar- 

on,  rvliicb 

silver  on 


hen  acting 
3  -was  em- 
i-k,  on  and 
luring  the 
slet  to  the 
jnsequence 

mpany,  cn- 
ists  in  Lon- 
•8  from  the 
ittention  to 
nbark  capi- 
eting  it  was 
1,  who  had 
s,  inchiding 
iselves  una- 
ngland." 
the  Montreal 

endeavored 
y  succeeded 
1  the  money 
iv  H.  Sibley, 
property  on 
f  September, 
o  Montreal ; 
aid  over,  the 

London,  de- 
r  to  find  the 

to  join  with 
the  Montreal 
for  $225,000, 
$50,000;  1st 
871,' through 


A. 

KXOW   ALL  WHOM  IT  MAY  CONCERN',   That  WC,  TuE   MONTREAL 

Mining  Company,  a  body  corporate  and  politic,  duly  incorporated 
by  statute  of  the  heretofore  Province  of  Canada,  Tenth  and  Elev- 
enth Victoria,  chapter  G8,  are  by  these  presents,  sealed  with  our 
seal,  and  signed  by  Robert  Anderson,  Esquire,  Vice-President  of 
the  said  Company,  and  countersigned  by  Nathaniel  J.  Handyside, 
our  Secretary,  held  andfnnly  hound  to  Edward  Alexander  Pren- 
tice, heretofore  of  the  City  of  Montreal,  in  the  Province  of  Quebec, 
in  the  Dominion  of  Canada,  at  present  at  London,  in  England,  in 
the  manner  hereinafter  declared,  subject  to  the  conditions  herein- 
after stated : 

W7iereaSy  the  said  Edward  Alexander  Prentice  hath  agreed  to 
purchase  from  us,  the  said  Montreal  Mining  Company,  the  whole  of 
the  real  estate  of  us,  the  said  Montreal  Mining  Company,  on  Lakes 
Superior  and  Huron,  including  all  the  real  estate  owned  by  us,  the 
said  Montreal  Mining  Company,  in  the  District  of  Algoma,  in  the 
Province  of  Ontario,  at  and  for  the  price  or  sum  of  two  hundred 
and  twenty-five  thousand  dollars,  currency  of  Canada,  whereof 
two  thousand  dollars  have  been  paid  to  the  credit  of  us,  the  said 
Montreal  Mining  Company,  into  the  Bank  of  Montreal  in  London, 
England,  at  and  before  the  delivery  of  these  presents,  as  an  abso- 
lute forfeiture,  not  to  be  returned  in  any  event,  the  receipt  whereof 
is  hereby  acknowledged,  and  the  balance  whereof  is  to  be  paid  as 
follows,  to  wit :  Forty-eight  thousand  dollars  on  the  first  day  of 
September,  one  thousand  eight  hundred  and  seventy ;  fifty  thou- 
sand dollars  on  the  first  day  of  January,  one  thousand  eight  hun- 
dred and  seventy-one ;  fifty  thousand  dollars  on  the  first  day  of 
July,  one  thousand  eight  hundred  and  seventy-one,  and  seventy- 
five  thousand  dollars  on  the  thirtieth  day  of  September,  one  thou- 
sand eight  hundred  and  seventy-one,  the  whole  at  the  rate  of  six 
per  centum  per  annum  from  the  said  first  day  of  September,  one 
thousand  eight  hundred  and  seventy,  until  paid.  We,  the  said 
Montreal  Mining  Company,  therefore  undertake  and  acknowledge 
ourselves  obliged  and  hound  to  and  in  favor  of  the  said  Edward 
i^lexander  Prentice,  on  payment  by  him  of  the  said  sum  of  two 
iundred  and  twenty-five  thousand  dollars,  and  interest,  in  the 
iaanner  and  within  the  times  above  stated,  to  grant,  execute  and 


if  ll 

I 


16 

deliver  to  him,  the  said  Edwarcl  Alexander  Prentice,  his  heirs  or 
assigns,  a  good  or  sufficient  conveyance  or  conveyances,  in  fee 
simple,  assuring  to  him,  his  heirs  and  assigns,  valid  and  sufficient 
title  to  the  said  real  estate,  free  Irom  encumbrances,  subject  only 
to  the  reservations  of  the  Crown,  as  contained  in  the  original  let- 
ters patent,  and  subject  to  the  laws  generally  in  force  concerning 
lands  in  the  said  District  of  Algoma,  in  the  said  Province  of  On- 
tario, which  said  real  estate,  until  more  fully  described,  is  indi- 
cated by  the  following  enumeration,  to  wit : 

Mamainse  Location,  containing  about  six  thousand  four  hundred 
acres ;  Location  near  Cape  Mamainse,  containing  about  four  thou- 
sand eight  hundred  acres ;  McGill's  Location,  containing  about 
six  thousand  four  hundred  acres ;  Turner's  Location,  containing 
about  six  thousand  four  hundred  acres  ;  Harrison's  Location,  con- 
taining about  six  thousand  four  hundred  acres ;  Ferrier's  Loca- 
tion, containing  about  six  thousand  four  hundred  acres  ;  Lyman's 
Location,  containing  about  six  thousand  four  hundred  acres ; 
Merritt's  Location,  containing  about  six  thousand  four  hundred 
acres  ;  Bagg's  Location,  containing  about  six  thousand  four  hun- 
dred acres ;  Ewart's  Location,  containing  about  six  thousand  four 
hundred  acres  ;  Derbishire's  Location,  containing  about  five  thou- 
sand two  hundred  and  thirty  acres ;  Wood's  Location,  including 
the  property  known  as  the  Silver  Islet,  containing  about  six  thou- 
sand four  hundred  acres ;  Wilson's  Location,  containing  about 
seven  thousand  two  hundred  acres ;  Hopkirk's  Location,  contain- 
ing about  five  thousand  four  hundred  and  sixty-eight  acres ;  Jar- 
vis'  Location,  containing  about  six  thousand  four  hundred  acres  ; 
Stewart's  Location,  containing  about  six  thousand  four  hundred 
acres ;  Ryan's  Location,  containing  about  six  thousand  four  hun- 
dred acres ;  and  a  lot  of  land  at  the  northern  extremity  of  the 
Bruce  Location,  Lake  Huron,  containing  about  twelve  hundred 
acres. 

We,  the  said  Montreal  Mining  Company,  do  hereby  also  further 
bind  and  oblige  ourselves,  in  the  event  of  the  said  Edward  Alex- 
ander Prentice  first  T)ayin£;  to  us,  the  said  Montreal  Mining  Com- 
pany, the  said  sum  of  forty-eight  thousand  dollars,  so  to  be  paid 
on  the  first  day  of  September,  one  thousand  eight  hundred  and 
seventy,  after  such  payment  shall  have  been  made,  or  after  he 


11 


lis  heirs  or 
CCS,  in  fee 
1  sufficient 
hject  only 
riffinal  let- 
3oncei'ning 
nee  of  On- 
ed,  is  indi- 


ur  hundred 
i  four  thou- 
niug  ahout 

containing 
cation,  con- 
fier's  Loca- 
3 ;  Lyman's 
Ired  acres ; 
ur  hundred 
d  four  hun- 
onsand  four 
it  five  thou- 
1,  including 
ut  six  thou- 
ining  about 
on,  contain - 

acres;  Jar- 

dred  acres ; 

ur  hundred 
id  four  hun- 
jmity  of  the 

ve  hundred 


also  further 
I  ward  Alex- 
lining  Com- 
o  to  be  paid 
undred  and 

or  after  he 


;^  shall  have  paid  any  of  the  additional  instalments  in  the  manner 
<^  hereinbefore  specified,  and  he  not  being  at  the  time  in  default  in 
^f  respect  of  any  of  the  said  payments,  to  sign,  seal,  execute,  give, 
'%  grant  and  deliver  to  him,  or  to  his  heirs  or  assigns,  at  his  or  their 
'  request,  good  and  sufficient  deeds  conveying  to  him,  his  heirs  or 
assigns,  the  -yhole  of  the  said  real  estate,  and  vesting  him  or  them 
with  the  title  thereto :  Provided  always,  and  ujion  the  express 
condition,  that  he  or  they  do,  at  the  same  time,  at  his  or  their  costs 
and  charges,  sign,  seal,  duly  execute  and  deliver  to  us,  the  said 
Montreal  Mining  Company,  a  re-conveyance,  by  way  of  first  mort- 
gage, of  the  said  real  estate,  securing  to  i\p,  the  said  Montreal 
Mining  Comjiany,  the  balance  which  may  at  the  time  be  remain- 
ing due  to  us,  the  said  Montreal  Mining  Company,  of  the  said  sum 
of  two  hundred  and  twenty-five  thousand  dollars,  and  the  interest 
accrued  and  to  accrue  thereon,  at  the  time  and  in  the  manner 
above  specified,  with  power  to  us,  the  said  Montreal  Mining  Com- 
pany, in  case  of  default  made  in  any  of  the  remaining  payments, 
to  sell  the  said  real  estate  at  the  cost,  risk  and  charges  of  the  said 
Edward  Alexander  Prentice,  his  heirs  or  assigns. 

Provided  always,  that  should  the  said  Edward  Alexander  Pren- 
tice, his  heirs  or  assigns,  fail  to  make  the  said  payment  of  forty- 
eight  thousand  dollars,  currency,  on  or  before  the  first  day  of 
September,  one  thousand  eight  hundred  and  seventy,  then  these 
presents  shall  become  utterly  null  and  void,  and  the  said  sum  of 
itwo  thousand  dollars  shall  remain  absolutely  and  for  ever  forfeited 
Jto  us,  the  said  Montreal  Mining  Company,  and  the  payment  by 
^the  said  Edward  Alexander  Prentice  of  the  said  sum  of  two  thou- 
sand dollars  shall  be  evidence  of  the  acceptance  by  him  of  these 
fjpresents,  under  the  conditions  herein  contained. 

Signed,  sealed,  duly  executed  and  delivered,  at  the  City  of 
,  Moni,real,  in  the  Province  of  Quebec,  in  the  Dominion  of  Canada, 
"this  twenty-fifth  day  of  May,  one  thousand  eight  hundred  and 
seventy. 

■^-  [SKAL.]  ROBT.    AnDBBSON, 

Yice-P)'esident  Montreal  Mining  Co. 

i    N.  J.  Handyside, 

Secretary  Montreal  Mining  Co. 

2 


18 


'I 
II 

i! 


.1 


t 


II 

'ID  I 

[IN 

III  I 
III 

■ihl 


i 


II  "'' 

...•ill! 

II !  !)i 
li 


•  iii 


'!l 


III  I 

1 1  III  I 

••III 

in  I 
III  I 

I!" 
till 

Mil 

III! 

ti.t 
.  III. 
I  'mi 

»  fini 

t   'INI 

I'lHI 
»  'III I 


Extract  from  the  Minutes  of  the  Proceedings  of  the  Directors  of 
the  Montreal  Mining  Company,  at  a  meeting  held  at  their  office, 
in  Montreal^  the  25th  May,  1870 : 

PreBent, — Robert  Andekson,  Esq.,  Vice-President,  in  the  Chair. 
Dr.  Geobge  W.  Campbell, 
Hekby  Mulbolland, 
James  Hctton, 
Alexander  Cross, 

Pirectors. 

Pesolved,  That  the  Bond  now  submitted  to  the  Board,  pledging 
the  Company  to  sell  all  their  real  estate  on  Lakes  Superior  and 
Huron,  in  the  District  of  Algoma,  to  Edward  Alexander  Prentice, 
Esquire,  for  the  sum  of  $225,000,  currency,  on  the  teiros  therein 
stated,  be  approved  of,  and  that  Robert  Anderson,  Esquire,  Vice- 
President,  be  authorized  to  sign,  seal,  duly  execute  and  deliver 
the  same  in  due  form  of  law,  and  that  Nathaniel  J.  Handyside, 
Esquire,  Secretary,  be  authorized  to  countersign  the  same. 

[seal.]  Root.  Andersow, 

VieC'President  Montreal  Mining  Co. 
N.  J.  Hakdtside, 

Secretary  Montreal  Mining  Co. 


irectors  of 
their  office, 


19 


the  Chair. 


•a,  pledging 
luperior  antl 
ler  Prentice, 
jnns  therein 
squire,  Vice- 
and  deliver 
Handyside, 

same. 

aw, 
Mining  Co. 


Know  all  mkn  by  these  presents,  That  I,  Edward  Alex- 
ander Prentice,  of  the  City  of  Montreal,  in  the  Dominion  of 
Canada,  Esquire,  in  consideration  of  one  dollar,  of  lawful  money 
of  Canada,  to  uie  in  hand  paid  by  Alexander  Hamilton  Sibley,  of 
the  City  of  Detroit,  in  the  State  of  Michigan,  Esquire,  and  for 
divers  other  valuable  considerations  moving  from  him  to  me,  do 
by  these  presents  grant,  bargain,  sell  and  assign  to  hun,  the  said 
Alexander  Hamilton  Sibley,  his  heirs  and  assigns,  all  andsingvlar 
the  within  written  bond  or  contract  of  sale,  dated  the  twenty-fifth 
diay  of  May,  one  thousand  eight  hundred  and  seventy,  whereby 
the  Montreal  Mining  Company,  for  the  payments  therein  men- 
tioned, bind  and  oblige  themselves  to  sell  and  convey  to  me,  the 
said  Edward  Alexander  Prentice,  all  and  singular  the  several 
parcels  and  tracts  of  land  within  mentioned  ;  to  have  and  to  hold 
the  same  unto  the  said  Alexander  Hamilton  Sibley,  his  heirs  and 
assigns,  as  fully  and  eflfectually  as  I,  by  virtue  of  the  said  bond  or 
obligation,  or  in  any  other  manner  whatsoever,  hold  the  same. 
And  I  do  hereby  covenant  with  the  said  Alexander  Hamilton  Sib- 
ley, that.  I  have  good  right  to  transfer  and  assign  the  said  within 
mentioned  premises,  free  from  incumbrances,  and  that  I  will  exe- 
Opite  such  further  assurances  thereat  as  may  be  requisite. 
VWitness  my  hand  ,and  seal,  this  first  day  of  September,  A.  D. 
UlO. 

Edw.  Alex.  Prentice,    [seal.] 

Signed,  sealed  and  delivered  ) 
in  presence  of  \ 

Adam  Crooks. 


20 


'•■, 


III 


Tins  Indenture,  made  the  first  day  of  September,  eighteen 
hundred  and  seventy,  between  Alkxandek  Hamilton  SntLEY,  of 
the  City  of  Detroit,  in  tlie  State  of  Micliigan,  Esquire,  of  the  one 
part,  and  Edward  Alexander  Prentice,  of  the  City  of  Montreal, 
in  the  Dominion  of  Canada,  Esquire,  of  the  other  part : 

iV/iereaSf  the  said  Edward  Alexander  Prentice,  under  a  certain 
bond  or  contract  of  sale,  dated  the  twenty-fifth  day  of  May, 
eighteen  hundred  and  seventy,  executed  by  the  Montreal  Mining 
Company,  is  entitled,  subject  to  the  payment  of  the  sums  of  money 
therein  mentioned,  to  the  parcels  and  tracts  of  land  therein  men- 
tioned, and  being  eighteen  mining  locations  in  all,  situate  on  Lakes 
Superior  and  Huron,  in  the  Districtof  Algoma,  in  the  Province  of 
Ontario : 

And  whereas^  the  said  Alexander  Hamilton  Sibley,  under  and 
in  conjunction  with  William  B.  Frue,  claims  to  be  in  possession 
of,  and  under  a  miner's  license  issued  to  said  William  B.  Frno. 
entitled  to  work  a  certain  silver  vein  or  lode  near  to  the  island 
called  Silver  Islet,  situate  in  the  location  termed  "  Wood's  Loca- 
tion," in  said  bond  or  contract  of  sale : 

And  whereas,  it  has  been  agreed  between  the  said  Alexander 
Hamilton  Sibley  and  the  said  Edward  Alexander  Prentice,  that  all 
the  rights  of  the  said  Edward  Alexander  Prentice,  under  his  saiil 
contract  with  the  Montreal  Mining  Company,  and  of  the  said 
Alexander  Hamilton  Sibley  and  William  B.  Frue,  under  the  said 
Mining  License,  should  become  vested  in  the  said  Alexander 
Hamilton  Sibley,  in  order  that  he  should  hold  the  same  upon  and 
for  the  trusts  and  purposes  following : 

And  whereas,  in  part  pursuance  of  the  said  recited  agreement, 
the  said  Edward  Alexander  Prentice  hath,  by  deed  bearing  evet 
date  herewith,  duly  granted  and  assigned  the  said  bond  or  cob 
tract  of  sale  to  the  said  Alexander  Hamilton  Sibley ;  and  the  saio 
Alexander  Hamilton  Sibley,  on  his  part,  agrees  with  the  sal 
Edward  Alexander  Prentice  to  procure  the  concurrence  of  the  saii 
William  B.  Frue  with  these  presents,  and  to  do  and  execute  an; 
act  or  deed  on  his  part  that  may  be  necessary  for  effectuating  tli 


In 
to 

■til 
pji 
A 
to 


th; 

im 

ow 

Ed 

am 

.•uc 

Hai( 

Isle 

aftc 

afoi 

1 

and 

to] 

into 

deci 

said 

shall 

res|J 

rfthoj 

■4« 


91 


jr    ciglitcen 

f  SlUI'KY,  of 
,  of  the  one 
of  Montreal, 


fler  a  certain 
lay  of  May, 
tvcal  Mining 
ims  of  money 
therein  men- 
late  on  Lakes 
e  Province  of 

sy,  under  and 

in  possession 

liam  13.  Fnio, 

to  the  island 

Wood's  Loca 

lid  Alexander 
entice,  that  all 

under  his  sai'l 
lid  of  the  sni'i 
under  the  siiii 

lid  Alexander 
same  upon  and 

.ed  agreement, 
I  bearing  evei 
I  bond  or  ecu 
f ;  and  the  sai> 
with  the  sai 
enee  of  the  sai' 
id  execute  an; 
eflfectuating  tli 


[intent  hereof,  and  also  agrees  to  pay  into  the  Bank  of  Montreal, 
Uo  tho  credit  of  the  said  Mining  Company,  the  sum  of  forty-eight 
thousand  dollars,  being  the  instalment  of  the  purchase  money 
payable  on  this  date,  and  also  to  refund  to  the  said  Edward 
Alexander  Prentice  the  sum  of  two  thousand  dollars  paid  by  him 
to  said  Company  on  re<pie8t,  after  ten  days'  previous  notice : 

Xoir  tJh'se  2^resenU  witness,  tixMWi  is  hereby  declared  and  agreed, 
that  the  said  Alexander  Hamilton  Sibley  shall  hold  the  said  above 
mentioned  premises  in  trust  for  himself  and  his  associates  as 
owners  of  nine-tenths  parts  or  shares  thereof,  and  for  the  said 
Ednard  Alexander  Prentice  as  owner  of  one-tenth  part  thereof; 
ond  that  he  shall  and  will  procure  from  the  said  William  B.  Fruc 
«uch  reh'ase,  assignment  or  other  transfer  of  any  rights  of  his,  tljo 
Maid  William  B.  Fruc,  in  the  said  silver  vein  or  lode  near  Silver 
Islet,  as  may  be  necessary  to  vest  the  same  immediately  here- 
after in  him,  the  said  Alexander  Jlamilton  Sibley,  in  the  trusts 
aforesaid. 

That  the  future  operations  with  respect  to  the  said  premises, 
and  as  to  disposing  of  the  same,  or  any  part  thereof,  shall  be  left 
to  be  determined  \\\^o\\  as  may  be  best  for  the  benefit  of  all  parties 
interested  in  the  said  trust,  as  a  majority  in  interest  of  them  may 
decide  upon  ;  it,  however,  being  understood  and  agreed,  that  the 
said  one-tenth  interest  of  the  said  Edward  Alexander  Prentice 
shall  not  become  or  be  made  liable  to  any  calls  or  payments  in 
respect  thereof,  except  his  quota  or  one-tenth  of  the  sum  of  twenty 
*  thousand  dollars,  requisite  to  be  raised  for  working  capital ;  and 
in  lieu  of  the  hereinbefore  mentioned  two  thousand  dollars  beins: 
paid  to  the  said  Edward  Alexander  Prentice,  it  may  be  retained 
by  the  said  Alexander  Hamilton  Sibley  in  lieu  of  the  said  Edward 
Alexander  Prentice's  quota  of  working  expenses. 

That  a  sum  not  exceeding  the  sum  of  one  thousand  dollars  be 
paid  out  of  the  first  earnings  from  operations  in  any  of  the  mines 
on  the  lands  above  mentioned,  to  the  said  Edward  Alexander 
Prentice,  to  reimburse  legal  and  other  expenses  incurred  by  him 
in  connection  with  this  work,  in  London,  England,  and  in  Mon- 
treal. 

Edw.  Alex.  Prentice,    [seal.] 

,  A.  H.  Sibley.  [seal.] 

Witness : 

Adam  Crooks. 


22 


itiili 

Hit}: 

III;)! 

iiiai 
'Mliti 

-4!:!; 


!•• 


n 


••II  ' 


*"' 

'^' 

"•'  I 
1 1  mi 

Mil* 


After  making  the  purchase,  Mr.  Sibley  sent  a  telegram  from 
Montreal  to  thateflcct,  to  Capt.  William  13.  Frue,  at  Houghton. 
Michigan,  who  chartered  a  steamer  at  once,  anil  crossed  the  Lake 
with  about  thirty  men,  mining  tools,  supplies,  t&c.,  the  steamer 
towing  a  large  scow  and  lieavy  raft  of  timber,  to  commence  the 
construction  of  a  breakwater,  for  Silver  Islet,  which  the  Montreal 
Comi)nny  had  failed  in  mining  successfully. 

Capt.  Frue  and  party  commenced  work  on  the  second  of  Sep- 
tember, 1870,  and  a  breakwater  and  cofter  dam  were  constructed) 
which  enabled  him  to  begin  mining  in  about  thirty  days,  in 
November  a  heavy  gale  carried  away  a  part  of  this  structure,  but 
it  was  rejiaired,  and  mining  resumed,  though  under  great  diffi- 
culty, as  boisterous  weather  prevailed  most  of  the  time  durint> 
the  winter.  On  the  8th  of  March  following,  a  heavy  sea  driving 
a  large  body  of  ice,  carried  away  nearly  half  the  crib  work,  filling 
the  mine  and  coffer  dam  with  ice  and  water.  Mining  was  not 
resumed  until  the  10th  May,  1871,  since  which  time  it  has  been 
carried  on  uninterruptedly. 

The  title  to  the  whole  property  remained  vested  in  Alexander 
H.  Sibley  until  the  second  day  of  November,  1870,  when  it  Avas 
deemed  desirable  that  it  should  be  put  in  a  different  shape ;  and, 
accordingly,  a  deed  and  declaration  of  trust  were  executed,  of 
which  the  following  is  a  copy : 

This  Indentuke,  made  and  concluded  this  second  day  of  No- 
vember, A.  p.  1870,  by  and  between  Allxandee  H.  Sibley,  of 
Detroit,  Michigan,  party  of  the  first  part,  and  Eber  B.  Ward,  of 
Detroit,  Michigan,  Edward  Learned,  of  Pittsfield,  Massachu- 
setts, Peleg  Hall  and  Charles  A.  Trowbridge,  of  the  City  of 
NeAv-York,  and  Alexander  H.  Sibley,  of  Detroit,  Michigan,  par- 
ties of  the  second  part,  witnesseth : 

That  Whereas,  the  Montreal  Mining  Company,  a  corporation 
existing  under  the  laws  of  the  Dominion  of  Canada,  on  the  twenty- 
fifth  day  of  May,  A.  D.  1870,  by  instrument  in  writing,  a  copy 
whereof  is  hereto  annexed,  and  made  a  part  hereof,  marked  A.,* 
agreed  to  transfer  and  convey  to  Edward  Alexander  Prentice,  of 
Montreal,  Canada,  all  and  singular  certain  lauds  and  properties 


23 

ercin  doflcribed,  in  said  Dominion  of  Canada,  upon  terms  and 
•onditioiiB  in  said  iuHti-uniunt  sot  forth  : 

And  Wiieukas,  said  Edward  Alexander  Prentice,  on  the  firgt 
day  of  Soptcmber,  A.  D.  1870,  by  instrument  in  writing,  a  copy 
whereof  is  hereto  annexed,  and  made  a  part  hereof,  marked  B.,* 
did  assign  aiul  transfer  the  aforesaid  bond  or  contract  of  sale  of 
the  said  Montreal  Mining  Company,  to  Alexander  II.  Sibley  : 

And  WngicKAS,  a  further  instrument  in  writing,  a  copy  whereof 
i§  hereto  annexed,  and  made  a  part  hereof,  marked  C.,f  was,  at 
the  same  tin)e,  to  wit,  the  first  day  of  September,  A.  D.  1870,  exe- 
cuted by  and  between  said  Prentice  and  Sibley,  relating  to  said 
property,  and  also  to  thr  claims  of  rights  of  one  William  B.  Fruc : 
And  WirEREAS,  the  s;.id  Alexander  II.  Sibley,  in  the  foregoing 
transactions,  acted  for  himself  and  sundry  other  persons  interested 
with  him;  and  it  is  now  deemed  desirable  that  the  interests  of  all 
parties  concerned  shall  bo  defined,  and  the  rights  or  properties  so 
Acquired  shall  be  held  in  a  manner  the  better  to  protect  the  same 
from  any  contingencies  which  might  prejudice  the  interests  of  the 
several  parties  entitled  thereto : 

Thkhefoue,  the  said  Alexander  II.  Sibley,  in  consideration  of 

the  premises,  and  of  onu  dollar,  lawful  money  of  Ihe  United  States, 

to  him  in  hand  paid,  the  receipt  whereof  is  hereby  acknowledged, 

hereby  sells  and  assigns  to  the  parties  of  the  second  part  hereto, 

as  Trustees,  for  themselves  and  certain  other  parties  entitled  to 

interests  hereinafter  specified,  the  said  bond  or  contract  of  sale, 

assigned  to  him,  the  said  Sibley,  by  the  said  Edward  Alexander 

Sibley,  of     Pfentice,  as  aforesaid  ;  subject,  however,  to  the  provisions  of  the 

33.  Ward,  ot     intfH^  instrument  hereto  annexed,  marked  C,  in  so  far  as  the  same  re- 

Massachu-      liites  to  the  one  tenth  interest  therein  reserved  to  the  said  Prentice : 

■  the  City  of         To  have  and  to  hold  the  same,  by  themselves,  their  success- 

ichigan,  par-     oxs  or  assigns,  as  fully  and  effectually  as  the  said  Sibley,  by  virtue 

of  the  said  bond,  contract  or  assignment,  or  in  any  manner  what- 

corporation     soever,  does  or  can  hold  the  same ;  and  the  said  Sibley  hereby 

the  twenty-     c<W6na»«s  with  the  said  parties  of  the  second  part,  Trustees  as 

ting,  a  copy     aforesaid,  that  he  has  good  right  to,  and  does,  transfer  and  assign 

marked  A.,*      the  same,  free  and  clear  from  any  lien  or  incumbrance  made  or 

Prentice,  of     satfered  by  him  ;  and  that  he  will,  at  all  times,  execute  such  fur- 

d  properties     ther  assurances  therefor  as  may  be  necessary. 


prram  from 
Houghton, 
jd  the  Lake 
he  steamer 
iraence  the 
10  Montreal 

ond  of  Sep- 
jonstructetl) 
f  days.  In 
ructure,  but 
•  great  difti- 
Lime  durinu" 
sea  driving 
work,  filling 
ng  was  not 
it  has  been 


Q  Alexander 

vhen  it  was 

shape;  ami, 

executed,  of 


day  of  No- 


•5 


*  Seo  page  19. 


t  Sm  page  80. 


' 


^w> 


'^\ 


MM* 


24 

And  the  said  parties  of  the  second  part  hereby  accept  the  assign- 
ment herein  made  by  said  Sibley  to  said  parties  of  the  second  part, 
as  Trustees,  for  themselves  and  other  parties  as  aforesaid  ;  ami 
hereby  declare  the  interest  of  themselves  and  such  other  parties 
therein  to  be  as  follows ;  and  further  declare  the  terms  and  condi- 
tions upon  which  such  trust  is  made  and  accepted  to  be  as  follows  : 

First. — That  the  Trustees  shall  hold  and  manage  the  property, 
whether  in  its  present  form  unde  the  assignment  above  mentionecl. 
or  when  the  more  full  title  contemplated  shall  have  been  obtaineil, 
or  in  any  intermediate  state  or  form  thereof,  in  such  manner,  in 
all  respects,  as  they,  or  a  majority  of  them,  shall  determine,  witli 
power  to  sell  or  dispose  of  the  whole  or  any  part  thereof,  at  such 
times  and  for  such  considerations  as  a  majority  of  said  Trustees 
shall  agree  upon ;  provided,  however,  that  the  management  and 
disposition  of  the  property,  in  whole  or  in  part,  may,  at  any  ami 
all  times  be  controlled  and  directed  by  a  majority  in  interest  of  the 
owners  or  their  legal  representatives. 

Second. — That  in  the  management  or  disposition  of  the  proper- 
ty, the  parties  of  the  second  part  shall  not,  by  themselves  or  their 
agents,  involve  any  of  the  other  parties  owning  interests  in  any 
liability  to  pay  money,  otherwise  than  such  suras  as  may  become 
due  for  such  portions  of  purchase  money  unpaid.  The  Trustees 
shall  have  the  right  to  pledge,  mortgage  or  hypothecate  any  por- 
tion of  the  property,  or  any  proceeds  thereof,  at  any  time  or 
times,  to  secure,  pay  or  reimburse  any  moneys  they,  or  other  par- 
ties by  their  direction,  may  have  paid  or  become  liable  to  pay,  for 
or  on  account  of  the  property,  or  operations  upon  or  relating  to  it 

nUrcl. — The  Trustees  are  hereby  authorized  to  use  their  discre 
tion  in  reference  to  making  further  payments  on  account  of  the 
purchase  of  said  property ;  but,  in  the  event  of  such  payment? 
being  made  or  undertaken,  they  shall  have  the  right  to  do  all  ne- 
cessary or  desirable  acts  in  reference  thereto,  including  that  of 
mortgaging  the  property. 

Fourth. — The  Trustees  shall  elect  from  their  number  a  Presi 
dent.  Secretary  and  Treasurer  of  their  Board,  and  make  and  cs 
tablish  such  rules  for  the  management  of  the  business  as  they  shall 
deem  expedient.    A  majority  of  the  Trustees  shall  constitute  a 


m 


ot  tlie  assigr.- 
secondpart, 
jresaid  ;  ami 
Dther  parties 
IS  and  condi 
e  as  follows : 

he  property, 
e  mentioned, 
een  obtained, 
h  manner,  in 
ermine,  witli 
ereof,  at  such 
said  Trustees 
lagement  anil 
y,  at  any  and 
interest  of  the 

>f  the  proper- 
elves  or  their 
:erests  in  any 

may  become 
The  Trustees 
cate  any  por- 
any  time  or 

or  other  par- 
►le  to  pay,  for 
relatinj;  to  it 

e  their  discre 
ccount  of  the 
ich  payments 
t  to  do  all  Ho- 
lding that  of 


nber  a  Presi 
make  and  es 
( as  they  shall 
1  constitute  a 


25 

quorum,  and  may  do  and  perform  all  acts  which  the  Trustees  arc 
authorized  to  do  ;  and  in  case  of  the  death  or  resignation  of  any 
Trustee  or  Trustees,  the  right  to  resign  being  hereby  specifically 
granted,  tlie  vacancy  thereby  occasioned  shall  be  filled  by  a  vote 
of  the  majority  of  the  remaining  Trustees,  and  the  person  so  se- 
lected sliall  be  vested  with  all  the  rights  and  powers  of  a  Trustee, 
as  fully  and  effectually  as  if  he  had  been  created  a  Trustee  by  this 
instrument,  upon  executing  upon  this  agreement,  or  sop^^^  duly 
authoii  ',ed  counterpart  hereof,  his  assent  to  and  acceptance  of 
Buch  trust. 

Fifth. — The  Trustees  shall  in  no  case  be  responsible  for  any  other 
than  tlieir  own  individual  action,  nor  in  any  manner  responsible 
for  any  act  or  omission,  except  willful  malfeasance. 

Sixth. — The  Trustees  shall  make  and  deliver,  to  any  party  in 
interest  demanding  the  same,  a  certificate  in  writing,  to  be  pre- 
pared and  made  in  such  terms  as  the  Trustees  shall  determine, 
and  to  be  signed  by  the  President  and  Secretary,  and  counter- 
signed by  the  Treasurer,  declaring  the  interest  in  this  agreement 
to  which  such  party  is  entitled.  And  thereafter  such  certificate 
shall  be  and  be  taken  to  be  the  only  evidence  of  such  party,  or  his 
assigns  or  legal  representatives,  of  any  interest  in  this  agreement, 
or  in  the  property  to  which  it  relates.  Such  certificates  may  be 
made  divisible,  and  to  be  assignable  and  transferable  on  the  books 
of  the  Trustees,  on  their  surrender  and  cancellation ;  whereupon 
new  certificates  will  be  issued  to  the  persons  entitle'^,  thereto,  pro- 
vided, however,  that  no  party  shall  be  entitled  to  any  such  certifi- 
cate until  he  shall  have  executed,  in  such  form  as  shall  be  pre- 
scribed by  the  said  Trustees,  liis  assent  to  this  agreement. 

Seventh. — The  Trustees  may  do  any  acts  in  their  discretion  ex- 
pedient, by  themselves  or  their  agents,  in  developing  or  operating 
the  property,  and  may  use  any  proceeds  therefrom  to  discharge 
and  pay  any  expenditures  or  liabilities  connected  therewith  ;  and 
in  furtherance  of  this  purpose,  the  Trustees  are  authorized  to  make 
any  purchases  or  sales  of  any  property  useful  or  desirable  for  such 
development  or  operations  in  the  names  of  any  persons  whatso- 
ever; and  in  reference  thereto,  exercise  an  unrestri  ted  discretion 
in  all  respects. 


III 


X 


26 

Eighth. — The  Trustees  may,  at  any  time  or  times,  distribute  and 
pay  to  the  parties  in  interest  such  portions  of  any  profits  which  they 
may  have  realized,  as  in  their  discretion  they  shall  deem  expedi- 
ent ;  and  shall  make  such  dividends  at  sundry  times,  when  the 
sura  of  one  hundred  thousand  dollars  shall  have  accrued  as  profits, 
over  and  above  all  liabilities  at  any  such  time  existing. 

Ninth. — Upon  any  sale  of  the  property  by  the  Trustees,  under 
the  authority  herein  given,  or  under  the  direction  of  the  parties  in 
interest  as  herein  provided,  the  Trustees  shall  apply  the  proceeds 
thereof,  first  to  the  payment  of  all  demands  or  just  claims,  and 
shall  distribute  the  balance  thereafter  remaining,  if  any,  among 
the  parties  in  interest,  ratably,  according  to  their  respective  in- 
terests ;  and  thereupon  this  trust  shall  cease  and  determine,  and 
this  agreement  be  and  become  null  and  void,  except  as  an  evidence 
of  title. 

Tenth. — The  interests  of  the  parties  entitled  under  this  agree- 
ment are  hereby  declared  to  be  as  follows:  E.  B.  Ward,  twenty- 
seven  and  a  half  per  cent. ;  Edward  Learned,  twenty-five  per 
cent. ;  Alexander  H.  Sibley,  six  and  one-quarter  per  cent. :  Charles 
A.  Trowbridge,  six  and  one-quarter  per  cent. ;  Peleg  Hall,  six 
and  one-quarter  per  cent. ;  William  B.  Frne,  six  and  one-quarter 
per  cent. ;  William  H.  Zabriskie,  one  and  five-eighths  per  cent. ; 
Alexander  H.  Sibley,  Trustee,  nine  and  five-eighths  per  cent.; 
George  S.  Coe,  one  and  one-quarter  per  cent. ;  Edward  Alexander 
Prentice,  ten  per  cent.  And  the  certificates  to  be  issued  therefor, 
and  future  certificates,  are  to  be  made  and  issued,  for  the  purpose 
of  convenience,  on  the  basis  of  sixteen  hundred  parts  or  shares, 
and  as  follows : 

E.  B.  Ward, 440  sixteen  imndredths. 

Edward  Learned, 400  "  " 

Alexander  H.  Sibley, 100  "  " 

Charles  A.  Trowbridge, 100  "  " 

Peleg  Hall, 100  "  « 

William  B.  Frue, 100  «  « 

William  H.  Zabriskie, 26  «  " 

A.  H.  Sibley,  Trustee, 154  "  " 

George  S.  Coe, 20  "  « 

Edward  A.  Prentice, 160  «  " 


Sams 
aocoi 
monc 
be  a 
so  h( 

the 
It 

out  c 

and 

rate 


,vibute  and 
ivhich  they 
Bin  expedi- 
when  the 
L  as  profits. 

• 

tees,  under 
e  parties  in 
le  proceeds 
claims,  and 
my,  among 
ispective  in- 
ermine,  and 
an  evidence 

r  this  agree- 
ird,  twenty- 
■nty-five  per 
nt.:  Charles 
eff  Hall,  six 
one-quarter 
hs  per  cent. ; 
13  per  cent.; 
•d  Alexander 
ued  therefor, 
:  the  purpose 
rts  or  shares, 


idredths. 
{( 

(C 

(C 
(C 
(C 

« 


I 
if 
■ft 


27 

In  ■\vitxess  ■whereof,  the  parties  hereto  have  hereunto  set  their 
hands  and  seals,  this  second  day  of  November,  A.  D.  one  thousan^J 
eight  Imndred  and  seventy. 

A.   H.    SlULKY, 

E.  B.  Wakd,  Tnistee, 
Edwakd  Learned,  Trustee^ 
*Peleg  Hall,  Trustee^ 
C.  A.  Trowbridge,  Trustee,    [seal.] 
A.  H.  Sibley,  Trustee.  [seal.] 


[seal.] 
[seal.] 
[seal.] 
[seal.] 


In  the  presence  of 
Frank  E. 


Kerxociian. 


At  the  first  meeting  of  the  Trustees,  at  the  St.  Nicholas  Hotel, 
on  the  2d  day  of  November,  1870,  present,  Edward  Learned,  E. 
B.  Ward,  Charles  A.  Trowbridge,  Pelcg  Hall  and  Alexander  H. 
Sibley. 

On  motion, 

It  was  resolved,  that  Alexander  H.  Sibley  be  appointed  Presi- 
dent, Edward  Learned,  Ti-easurer,  and  Charles  A.  Trowbridge, 
Secretary,  with  the  understanding  that  a  majority  of  the  Trustees 
tUAy,  at  any  time,  make  any  changes  of  any  of  the  oflBcers  which 
tkey  may  elect  to  do. 

It  was  further  resolved,  that  all  the  money  receivable,  and  ores 
a&d  avails  thereof,  shall  be  paid  or  delivered  to  the  Treasurer,  or 
deposited  to  his  credit  in  the  American  Exchange  National  Bank 
of  New- York;  provided,  however,  that  inasmuch  as,  up  to  the 
l^tesent  time,  Mr.  Sibley  has  become  obligated  for  considerable 
ftums,  in  conducting  the  business,  and  has  likewise  received  on 
aecount  thereof  other  lai'ge  sums  from  the  owners,  that  any  of  such 
moneys  lie  may  have  on  hand,  or  other  which  he  may  receive,  may 
be  applied  by  him  directly  to  the  payment  of  his  said  obligations 
so  heretofore  contracted  ;  his  accounts,  however,  to  be  returned  to 
the  Secretary,  and  to  be  settled  with  the  least  practicable  delay. 

It  was  further  resolved,  tliat  the  President  shall  be  paid  a  salary 
out  of  the  net  earnings  of  the  business,  for  his  services  rendered, 
ftnd  to  be  rendered,  for  the  benefit  of  the  trust,  at  and  after  the 
vate  of  five  thousand  dollars  per  annum,  commencing  September 
1^  last  past. 
,«.  *|lr.  Sibley,  on  behalf  of  W.  B.  Frue,  having  requested  that  a 


r. 


*HIM 


28 

salary  sliould  also  be  allowed  Mr.  Frue,  who  is  agreed  upon  as 
Superintendent  at  the  mine,  a  similar  salary  was  agreed  to  be 
paid  him,  with  a  furthc^r  understanding  that,  should  he  continue  to 
act  in  such  capacity  satisfactorily,  he  should  be  allowed  an  addi- 
tional sum  of  twenty-five  thousand  dollars  as  a  gratuity,  in  case, 
within  one  year,  there  shall  be  realized  net  proceeds  from  the 
mine  which  can  and  shall  repay  the  purchase  money  for  the  pro- 
perty purchased  of  the  Montreal  Mining  Company  and  interest; 
and  also  furnish  the  money  to  pay  such  gratuity. 

On  motion. 

The  meeting  Avas  dissolved,  subject  to  re-assembling  on  the  call 
of  the  officers,  or  a  majority  of  them. 

Under  the  new  organization,  work  at  Silver  Islet  and  on  the  main 
land  was  vigorously  prosecuted  under  the  able  superintendence  of 
Capt.  William  B.  Frue  ;  though  not  as  rapidly  as  we  had  reason  ^o 
hope,  in  consequence  of  the  difficulty  of  obtaining  skilled  miners. 

Jarvis  Location. 

During  the  months  of  June  and  part  of  July,  1811,  a  small 
force  was  engaged  in  sinking  a  shaft  on  Jarvis  Island,  on  a  large 
and  i^romising  lode,  which,  in  places,  showed  rich  in  silver ;  but 
work  was  discontinued  on  the  26tli  of  July,  in  consequence  of  an 
offer  being  made  by  Messrs.  R.  F.  McEwen,  of  London,  England, 
and  Simon  Mandlebaum,  of  Detroit,  Michigan,  of  $150,000  for  the 
"  Jarvis  Location,"  (6,400  acres,)  which  was  accepted  by  the 
Trustees,  the  money  paid  into  the  Treasury,  and  deeds  were 
executed  to  these  gentlemen. 

Woods  Location. 

Deeming  it  for  the  best  interests  of  the  trust,  the  Trustees,  ou 
the  21st  day  of  February,  1872,  made  a  deed  of  Woods  Location, 
consisting  of  6,400  acres,  including  Silver  Islet  and  the  other 
islands  in  front  thereof,  to  a  Company,  which  they  organized  for 
the  purpose,  under  the  laws  of  the  State  of  New- York,  called 
"  The  Silver  Mining  Company  of  Silver  Islet,  Lake  Superior." 
To  this  Company  the  Trustees  also  conveyed  all  the  works  at 
Silver  Islet,  and  all  the  mining  plant  and  stores  there  and  at 
"  Woods  Location,"  as  well  as  sixty  thousand  dollars,  or  sixty 


29 


kI  upon  as 
;reed  to  be 
continue  to 
ed  an  adtli- 
ity,  in  case, 
Is  from  the 
for  the  pro- 
id  interest; 


on  the  call 


I  on  the  main 
ntendence  of 
tad  reason  ^o 
;illed  miners. 


71,  a  small 
id,  on  a  large 
I  silver;  but 

uence  of  an 
)n,  England, 
0,000  for  the 
ipted  by  the 
deeds  were 


Trustees,  on 
)ds  Location, 
nd  the  other 
organized  fov 
-York,  called 
ke  Superior." 
the  works  at 
there  and  at 
lars,  or  sixty 


per  cent,  of  the  capital  stock  of  the  Wyandotte  Silver  Smelting 
and  Refining  Works,  which  the  Trustees  had  caused  to  be  con- 
structed, for  the  purpose  of  smelting  the  ores  from  Silver  Islet, 
there  being  no  establishments  in  the  Eastern  States  of  sufficient 
capacity  to  do  the  work. 

Since  the  transfer  of  "  Woods  Location,"  the  Trustees  have 
carried  on  no  mining  operations,  and  have,  therefore,  nothing  of 
pecuniary  interest  to  report.  They  intend  in  the  coming  spring 
to  commence  explorations  upon  tlio  remaining  locations,  with  a 
view  to  dispose  of  the  property,  or  to  have  it  developed  as  speedily 
as  jiossible. 

Thompson's  Island. 

At  the  time  of  making  the  final  payment  to  the  Montreal 
Mining  Company,  some  objection  was  made  by  that  Company  to 
including  in  the  deed  a  location  known  as  Thompson's  Island,  not 
specifically  enumerated  in  the  bond,  but  claimed  by  the  Trustees 
under  the  general  terms  thereof. 

Tlie  difficulty  thus  arising  was  finally  compromised,  by  making 
an  agreement,  by  virtue  of  which  the  Trustees  accepted  one-half  of 
the  stock  of  the  Montreal  Mining  Company,  which  still  holds  the 
title  to  Thompson's  Island. 

The  stock  is  held  by  Robert  Anderson,  Trustee  for  this  Com- 
pany, and  the  prospect  of  its  becoming  of  considerable  value  is 
good,  as  the  island  contains  several  promising  veins,  which  have 
not  yet  been  opened  on ;  but  it  is  expected  that  a  small  force  will 
be  set  at  work  there  during  the  coming  summer. 

The  Trustees  have  not  thought  it  necessary  to  explain  in  detail 
the  many  difficulties  with  which  they  have  been  obliged  to  con- 
tend, in  the  faithful  management  of  the  important  interests  com- 
mitted to  their  charge ;  the  vexatious  lawsuits  they  have  been 
compelled  to  sustain,  the  intricate  legal  questions  they  have  had  to 
compromise,  the  insidious  attacks  upon  the  integrity  of  their  pro- 
perty which  '.hey  have  successfully  defeated.  These  difficulties 
have  hitherto  rendered  it  inexpedient  and  impracticable  to  make  a 
report  of  their  operations ;  and  they  hope  that  their  reticence  has 
not  been  misconstrued  by  those  in  whose  interests  it  has  been 
maintained. 

The  Treasurer's  report  shows  a  balance  on  hand  of  cash  and 
cash  assets,  of  176,025  11 ;  which  the  Trustees  deem  sufficient  to 
provide  for  the  exploration  of  the  remaining  property. 


30 


lit*" 

Kill! 

I'! 


Report  of  Edwabd  Learned,  Treasurer  of  "  The  Canada  Lands  Purchase.'' 

Cr. 

Goia. 

1870,  Sept.  1,  Paid^ra^  instalment  on  purcbaee  of  the  property 

of  the  Montreal  Mining  Co., $50,000  00 

1871,  Jan'y  1,  Paid  second            do.           do.           do 50,000  00 

July    1,    "     third              do.           do.           do 50,000  00 

Sept.  30,    "    fourth            do.           do.           do 75,000  00 

"      "      "    interest  on  above  instalments  to  the  Montreal 

Mining  Co., 8,363  00 

Currency. 
"      "      "    premium  on  $183,363,  gold,  and  interest  on 

loans  to  pay  above  instalments, 13,846  00 

1871  and  1873.    "    for  smelting  silver  ores  produced  from  Silver 

IsletMine, 60,110  11 

"    Canadian  Customs  on  supplies  and  machinery 

purchased  in  the  United  States, 3,584  35 

"    freight  and  insurance  on  ores  and  supplies,. .       26,614  13 

"  for  steam  tugs  "  Ed.  Gallagher,"  "  Helen 
Grace,"  "  Silver  Spray"  and  two  large 
scows, $30,448  01 

"    for  explorations  and  surveying  on  different 

locations, 4,423  78 

"    for  ^  taxes  on  property  for  1870,  (|  being  paid 

byM.  M.  Co.,) 740  22 

"    for  taxes  for  1871, 8,135  56 

"    drafts  of  Superintendent  for  supplies,  labor, 

&c.,  on  Islet  and  main  land, 131,662  60 

"    premium  on  gold  purchased  to  pay  above 

drafts  and  interest  on  same, 11,384  79 

"    for  mining  plant,  engine  and  engine  house,  « 

pumps  and  fixtures  on  Islet 7,066    4 

"    for   boarding   house,   office,   assorting  and 

change  house  on  Islet, 4,651  28 

"    for  breakwater,  coffer-dam  and  shaft  on  Islet,       60,745  JiS 

"  "  dwellings,  boarding  houses,  store,  ware- 
houses and  stables  on  main  land 23,835  01 

"    for  teams,  office  furniture,  bedding,  &c.,  &c.,.         5,245  63 

"  *•  harbor  breakwater,  building  roads,  clear- 
ing lands,  &c., 14,556  11 

"    for  general  expenses,  including  law  fees  and 

legal  expenses  in  Canada  and  New- York, .       21,872  89 

"    for  William  B.  Frue  on  special  contract  for 

services, 26,000  00 

"    first  dividend, 166,686  66 

"    second  do 96,000  00 

"    cash  on  hand, 69,665  11 

$1,022,020  64 


da  Purchase." 


Gold. 

$50,000  00 
50,000  00 
60,000  00 
75,000  00 


8,363  00 
Currency. 

13,846  00 

60,110  11 

3,584  85 
36,614  13 

$30,448  01 

4,423  78 

740  23 
2,135  56 

131,662  60 

11,284  79 

7,066    4 

4,651  28 
60,745  yS 

22,325  01 
5,245  63 

14,556  11 

21,872  89 

25,000  00 

166,666  66 

96,000  00 

69,665  11 

$1,022,020  64 


81 


Dr. 

1870,  Aug.  27,  Amount  received  from  ebareholders  to  pay  Ist  in- 

Btalment,  j7oW,     $50,000  00 
"  "  "  do.    for  working  capi- 

tal, cwrrenc^/,..       23,100  00 
1871  and  1873.        "  "  "      sales  of  silver,  being  pro- 

duct of  mine  for  1870  and 

1871, 797,448  68 

"             "          "      sale  of  Jarvis  Island  pro- 
perty, (0,400  acres,) 150,000  00 

"  "       for  interest  on  same, 1,47196 

$1,022,020  64 

Assets. 

Caslionhand, $00,065  11 

Atlantic  Mutual  Insurance  Co.'s  scrip  for  1871,.. .         1,410  00 
do.         do.  do.  "    1873,...         4,950  00 

One-half  the  stock  and  franchises  of  Montreal 

Mining  Co. 
Sixteen  locations  on  Lake  Superior,  containing 

94,298  acres. 

Liabilities, 

None. 

I'd  sum  up  the  operations  of  the  Trustees  in  a  few  words  :  they 
aequired,  for  an  original  outlay  of  ^73,100,  more  than  107,000 
acres  of  land ;  out  of  the  proceeds  of  the  land  itself,  they  have 
paid,  for  the  purchase  of  the  property,  about  $200,000 ;  for  smelt- 
ing and  freight,  about  $100,000;  for  labor  and  construction  ac- 
count, about  $260,000  ;  for  sundry  miscellaneous  expenses,  about 
iJiOjOOO ;  have  divided  among  the  shareholders  over  $260,000  in 
cash  ;  and  have  now  on  hand  about  $75,000,  or  an  amount  equal 
to  that  with  which  they  went  into  business. 

When  the  Trustees  took  possession  of  the  property  it  was  a 
lonely  and  desolate  wilderness ;  they  have  transformed  it  into  a 
thriving  and  industrious  settlement,  with  a  church,  school-house, 
store,  custom-house,  post-office  and  substantial  dwellings  for  over 
600  men ;  they  have  made  it  the  best  harbor  of  refuge  on  tlie 
northern  shore  of  the  lake,  with  a  light-house  on  Silver  Islet,  and 
range  lights  on  the  main  land ;  with  extensive  wharves,  for  ship- 
ping ores  and  supplies,  with  basins  protected  by  breakwaters, 
with  a  sectional  dock  for  repairing  vessels,  with  three  steam-tugs 
•ad  complete  equipments  of  all  descriptions.  Silver  Islet  itself 
%aB  a  bare  rock,  nearly  a  mile  from  the  main  land,  exposed  to 


1 

■ft* 


■■^ii^: 


32 

being  daily  submerged  by  the  waters  of  the  lake  ;  measuring  not 
more  than  eighty  by  one  hundred  feet.  Its  area  has  now  been 
enlarged  to  over  two  acres,  well  protected  against  storm  and  water, 
and  covered  with  buildings  for  the  mining,  assorting  and  packing 
of  the  ore.  The  mine  is,  without  question,  the  most  remarkable 
silver  mine  in  the  world. 

All  this  property,  together  with  the  controlling  interest  in  the 
most  complete  smelting  works  on  this  continent,  has  been  trans- 
ferred to  The  Silver  Mining  Company  of  Silver  Islet,  Lake  Su- 
perior, of  which  the  whole  capital  stock  has  been  divided  in  the 
ratio  of  thirty-six  shares  to  each  share  in  the  trust;  and  that 
Company  is  now  successfully  operating  the  mine. 

A  charter  was  obtained  from  the  Provincial  Parliament  of  On- 
tario, incorporating  the  Ontario  Mineral  Lands  Company,  to  which 
the  Koyal  assent  was  given  on  the  2d  day  of  March,  18V2  ;  and 
in  this  Company  the  property  held  by  us  as  your  Trustees  is  now 
vested,  viz. : 


Mineral  lands, 94,298  acres. 

One-half  the  stock  and  franchises  of  the  Montreal 
Mining  Company. 

Cash  on  hand, 

Atlantic  Mutual  Insurance  Co.  scrip,  1871, 

1872, 


(( 


« 


u 


u 


,665  11 
1,410  00 
4,950  00 


In  closing  our  report,  we  confidently  believe  that  so  successful 
a  financial  operation  has  rarely  been  made  ;  and  we  only  hope 
that  the  future  of  The  Ontario  Mineral  Lands  Company  may  prove 
equally  fortunate  in  its  results. 

No.  52  Hkoadway, 

Njew-Yobk,  BeG.  30,  1872. 


A.  II.  Sibley, 
Edward  Learned, 
E.  B.  Ward, 
Chas.  a.  Trowbridge, 
Peleg  Hall, 


Trusieea. 


i  'ii 


I 


asuring  not 
3  now  been 
I  and  water, 
nd  packing 
remarkable 

erest  in  the 
been  trans- 
t,  Lake  Su- 
/ided  in  the 
, ;  and  that 


B  Y-L.  A.A\^  S 


OP  THE 


nent  of  On- 
ly, to  which 
,  18V2  ;  and 
stees  is  now 


ONTARIO  MINERAL  LANDS  COMPANY. 


34,298  acres. 


,665  11 
1,410  00 
4,950  00 

o  successful 
e  only  hope 
Y  may  prove 


Trustees. 


1. 

The  principal  office  of  the  Company  shall  be  at  Silver  Islet,  in 
the  Province  of  Ontario. 

2. 

The  Company  shall  have  an  office  at  room  22,  Number  52 
Broadway,  in  the  City  of  New- York,  at  which  books  shall  be  kept 
for  the  subscription  and  transfer  of  shares,  where  shareholders' 
meetings  shall  be  held,  and  where  any  business  of  the  Company 
may  be  transacted. 

3. 

The  place  referred  to,  in  the  16th  section  of  the  act  incorpora- 
ting the  Company,  shall  be  in  the  Edinburgh  Assurance  Buildings, 
on  Wellington  Street,  Toronto. 

4. 

The  annual  general  meetings  of  the  shareholders,  after  the  year 

;||73,  shall  be  held  at  room  22,  Number  52  Broadway,  in  the  City 

€p  New- York,  on  the  second  Wednesday  of  February  in  each 

y«ar. 

3 


84 

6. 

Special  meetings  of  the  shareholders  shall  be  called  by  the  Sec- 
retary, whenever  directed  by  the  Directors,  or  by  the  holders  of 
more  than  a  quarter  of  the  shares  then  actually  issued,  of  which 
notice  shall  be  given,  as  provided  in  the  14th  section  of  the  act 
incorporating  the  Company :  such  notice  shall  specify  the  objects 
of  the  meeting,  and  no  other  business  shall  be  there  transacted. 


6. 

At  any  meeting  of  shareholders,  every  shareholder  shall  be  en- 
titled to  one  vote  for  every  share  standing  in  his  name ;  but  votes 
shall  only  be  cast  by  the  owner  or  holder  of  such  shares,  or  by  a 
person  holding  a  power  of  attorney  for  such  purpose,  signed  by 
the  holder  or  owner.  No  shares  owned  or  held  by  the  Company 
shaU  be  tntitled  to  a  vote. 

i 

Meetings  of  Directors  may  be  called  at  any  time  or  place,  upon 
reasonable  notice,  to  be  given  by  the  Secretary  at  the  request  of 
three  Directors. 

8. 

The  said  Directors,  or  any  of  them,  shall  receive  such  compensa- 
tion for  their  services  as  the  shareholders,  at  any  annual  general 
meeting,  shall  direct. 

0. 

The  Directors  shall,  immediately  after  their  election,  appoint 
officers,  servants  and  agents,  as  provided  in  the  13th  section  of  the 
act  incorporating  the  Company. 


10. 

Certificates  of  shares  in  the  Company  sTiall  be  signed  by  the 
President  and  Secretary,  under  the  seal  of  the  Company ;  and  all 
other  instruments,  requiring  the  seal  of  the  Company,  shall.be 
given  under  the  hands  of  the  President  or  Vice-President,  and  of 
.the  Secretary, 


85 


11. 


The  Treasurer  shall  have  the  care  and  custody  of  all  the  funds 
of  the  Company  that  may  come  into  his  hands  ;  he  shall  sign  or 
accept  all  checks,  drafts,  notes  or  orders  for  the  payment  of  money 
which  may  be  necessary  for  the  business  of  the  Company,  and 
shall  pay  out  and  dispose  of  the  same  under  the  direction  of  the 
Directors.  He  shall  keep  his  bank  account  in  the  name  of  the 
Company  in  a  bank  or  banks  designated  by  the  Directors;  and 
shall  make  a  statement  thereof  to  the  Directors  upon  a  reasonable 
notice ;  and  shall,  at  all  times,  exhibit  his  books  and  accounts  to 
any  Director  upon  application  for  that  purpose. 

12. 

The  Secretary  shall  keep  minutes  of  all  proceedings  at  meetings 
of  the  shareholders,  or  of  the  Directors,  in  proper  books  provided 
for  such  purposes.  He  shall  attend  to  such  correspondence,  and 
keep  such  books  as  the  Directors  shall  order ;  and  shall  attend  to 
the  giving  and  mailing  of  all  notices ;  and  shall  further  perform 
all  such  acts  as  the  Directors  shall  order. 

13. 

The  Directors  shall  have  power  to  sell  or  lease  any  portions  of 
the  Company's  lands ;  provided,  however,  that  no  sale,  lease  or 
other  disposition  of  all  of  the  Company's  lands  shall  be  made  with- 
out the  authority  of  a  majority  in  interest  of  the  shareholders,  to 
be  given  at  the  annual  general  meeting,  or  at  any  other  meeting 
of  the  Company,  specially  called  for  that  purpose. 


14. 

Certificates  of  shares  shall  be  numbered  and  registered,  in 
suitable  books,  in  the  order  in  which  they  are  issued ;  and  each 
certificate  issued  shall  be  receipted  for,  in  the  margin  of  the  cer- 
tificate book.    The  certificates  shall  be  in  the  following  form : 

"  This  is  to  certify,  that  is  a  holder  of 

"  shares  in  *  The  Ontario  Mineral  Lands  Company,'  of  the  par 
"  value  of  upon  which  the  sum  of 

"  has  been  paid  up. 


36 

"  Given  under  the  hands  of  the  President  and  Secretary,  and 
"  under  the  seal  of  the  said  Company,  this  day  of 

A.  D.  18 


{( 


J) 


do 


16. 
Transfers  of  shares  shall  be  in  the  following  form  : 

"  I,  in  consideration  of  the  sum  of 

"  dollars,  paid  to  me  by  of 

"  hereby  bargain,  sell  and  transfer  to  the  said 
"  and  his  executors,  administrators  and  assigns,  or  such  persons 
"  as  by  law  may  become  entitled  to  his  or  their  personal  pro- 
"  perty,  shares  in  '  The  Ontario  Mineral  Lauds  Com- 

"  pany,'  subject  to  the  same  rules  and  orders,  and  on  the  same 
"  conditions  that  I  held  the  same  immediately  before  the  execu- 
"  tion  thereof;  and  I,  the  said  do  hereby  accept 

"  of  the  said  shares,  subject  to  the  same  rules,  orders 

"  or  conditions. 

"  As  witness  our  hands,  this  day 

"  of  A.  D.  18 


» 


Transfers  shall  only  be  made  upon  the  books  of  the  Company, 
by  the  holder  or  owner  in  person  or  by  power  of  attorney, 
authenticated  to  the  satisfaction  of  the  Directors,  and  by  the  sur- 
render of  the  certificates  of  the  shares  transferred ;  and  all  sur- 
rendered certificates  shall  be  immediately  cancelkd  by  the  Secre- 
tary. 


16. 

* 

All  calls  upon  shares  shall  be  made  by  the  Secretaiy,  by  circu- 
lar, in  the  following  form,  or  to  the  like  effect : 

"  Take  notice,  that  a  call  of  per  cent,  on  each  share  of  the 

"  capital  stock  of  the  Company  has  been  made  by  order  of  the  Direc- 
"  tors  of  *  The  Ontario  Mineral  Lands  Company,'  to  be  paid  at  the 
"  offices  of  the  Company,  at  No.  62  Broadway,  in  the  City  of  New- 
"  York,  on  or  before  the  day  of  A.  D. 

"18     ;  that  the  amount  to  be  paid  by  you  under  such  call  is  the 


37 

"  Slim  of  ^  ;  and  tliat  you  aro  required  to  pay  the  same 

"  on  cr  before  the  said  *     day  of  A.  D,  18     ." 

No  call  shall  be  made  for  more  than  twenty-five  per  cent,  at 
any  one  time ;  and  thirty  days'  notice  shall  be  given  of  all  calls. 
In  case  any  shareholder  shall  neglect  or  refuse  to  pay  such  calls, 
at  the  times  appointed,  the  Secretary  shall  send  to  the  defaulting 
shareholder,  at  the  address  referred  to  in  the  1 4th  section  of  the 
act  incorporating  the  Company,  and  publish  as  directed  by  that 
section,  a  notice  in  the  following  form  or  to  the  like  effect : 

"  Take  notice,  that  inasmuch  as  you  have  failed  to  pay  the  call 
"  on  your  shares  in  '  The  Ontario  Mineral  Lands  Company,'  of 
"  which  you  were  notified  by  circular,  dated  the  day  of 

**  A.  D.  18     ;  the  said  Company  will,  if  such  call  remain 

"  unpaid  for  the  space  of  three  months,  cancel  your  shares  in  the 
"  said  Company,  without  further  notice  *o  you." 

17. 

In  case  of  forfeiture  of  shares  for  non-payment  of  calls  ^hereon, 
as  aforesaid,  the  same  shall  be  and  be  considered  duly  cancelled, 
by  a  resolution  of  the  Directoi's  to  that  effect. 


18. 

Tliirty  days'  notice  of  all  dividends  shall  be  given  by  the  Secre- 
tary, as  provided  in  the  14th  section  of  the  act  incorporating  the 
Company  ;  and  the  transfer  books  shall  be  closed  ten  days  before 
and  shall  remain  closed  until  after  the  first  day  of  payment  of  the 
dividend. 

19. 

A  suitable  seal  shall  be  provided,  which  shall  be  under  the 
charge  of  the  Secretary,  and  the  affixing  of  such  seal  to  contracts 
and  instruments,  together  with  the  signatures  of  the  President  or 
Vice-President  as  aforesaid,  and  of  the  Secretary,  shall  bind  the 
Company. 

20. 
The  transfer  books  of  the  Company  shall  be  closed  ten  daya 


38 

before,  and  shall  remain  closed  until  after  the  annual  general 
meeting  cf  the  shareholders. 

21. 

If  any  person  claims  a  new  certificate  from  the  Company,  in 
lieu  of  one  lost  or  destroyed,  he  shall  make  an  affidavit  of  the  fact 
and  the  circumstances  of  the  loss  or  destruction,  and  shall  adver- 
tise in  one  daily  paper  published  in  the  City  of  Toronto,  and  in 
one  daily  paper  published  in  the  City  of  New-York,  both  to  be 
designated  by  the  President  or  Vice-President,  once  in  each  week 
for  six  weeks,  an  account  of  the  loss  or  destruction,  describing  the 
certificate,  and  calling  upon  all  persons  to  show  cause  why  a  new 
certificate  should  not  be  issued  in  lieu  of  that  lost  or  destroyed  ; 
and  he  shall  deliver  to  the  Company  his  said  affidavit  and  proof 
of  the  publication  of  said  advertisement,  and  shall  also  give  to 
the  Company  a  satisfactory  bond  of  indemnity,  with  one  or  more 
sureties,  in  double  the  amount  in  value  of  the  shares  represented 
by  the  certificate  so  lost  or  destroyed,  against  any  damage  that 
may  arise  from  issuing  a  new  certificate  ;  whereupon  the  proper 
officers'  may  issue  a  new  certificate  of  the  same  number,  date  and 
tenor  with  that  said  to  be  lost  or  destroyed,  and  specifying  that 
it  is  in  lieu  thereof. 


22. 


These  by-laws  may  be  altered,  amended,  suspended  or  repealed 
by  a  majority  of  all  the  shareholders  in  interest,  at  any  annual 
general  meeting,  or  at  any  meeting  specially  called  for  the  purpose. 


